High inflation in the US continues to ease. In February, consumer prices rose 6.0 percent from the same month last year, the Department of Labor announced Tuesday in Washington. It is the lowest increase since September 2021. Analysts had expected the current development. Month-on-month consumer prices rose by 0.4 percent, compared to 0.5 percent in January.
Rents in particular, which accounted for more than half of the monthly increase, according to the ministry, rose sharply. Food was also more expensive, while energy was cheaper. Core inflation, which is calculated excluding volatile energy and food prices, was 5.5 percent on an annual basis and 0.5 percent mom. Here, too, the annual figure fell, but only slightly.
Inflation data is currently in the spotlight because it is of great importance to the monetary policy of the US Federal Reserve. However, its importance has recently declined due to the turbulence in the US banking sector. Market participants are wondering whether the Fed will stay on track and hike rates further at its next meeting in just over a week. Economists disagree on this.
(yam/sda/awp/dpa)
Soource :Watson
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
