Inflation data cools in February, easing investor fears about the health of the US economy

February's Consumer Price Index (CPI) study showed ostentation pressures eased successful February, calming immoderate fears astir the wellness of the US system during a rocky fewer weeks for markets.

The latest information from the Bureau of Labor Statistics showed that the Consumer Price Index (CPI) accrued 2.8% implicit the anterior twelvemonth successful February, beneath January's 3% yearly summation and up of economist expectations of a 2.9% yearly increase.

The scale roseate 0.2% implicit the erstwhile month, a deceleration from the 0.5% summation seen successful January and a bushed compared to economists' estimates of a 0.3% monthly uptick.

On a "core" basis, which strips retired the much volatile costs of nutrient and gas, prices successful February climbed 0.2% implicit the anterior month, little than January's 0.4% monthly gain, and 3.1% implicit past year. This marked a downtick from the 3.3% halfway terms increases seen successful the prior-month play and was besides up of Bloomberg statement estimates.

It was the archetypal clip since July that some header and halfway CPI showed a deceleration successful terms growth.

Core ostentation has remained stubbornly elevated owed to sticky costs for structure and services similar security and aesculapian care. But structure did amusement further signs of easing successful February, rising 4.2% connected an yearly basis, the smallest 12-month summation since December 2021.

On a month-over-month basis, the structure scale accrued 0.3% compared to a 0.4% uptick successful January. The scale for rent and owners’ equivalent rent (OER) besides each roseate 0.3% implicit the anterior month. Owners' equivalent rent is the hypothetical rent a homeowner would wage for the aforesaid property.

Meanwhile, the vigor scale roseate 0.2% period implicit period aft rising 1.1% successful January. On a yearly basis, the vigor scale was down 0.2%. Within energy, state prices dropped 1% aft a astir 2% summation the erstwhile month.

Food prices besides showed signs of deceleration, rising 0.2% past period aft a 0.5% emergence successful January. Egg prices, however, continued to surge — up different 10.4% aft a 15.2% surge to footwear disconnected the year.