Inflation gauge increased 0.4% in February, as expected and up 6% from a year ago
Publishing timestamp: 2023-03-14 11:34:15
Summary
The consumer price index rose 0.4% in February and 6% from a year ago, in line with market expectations. The probability that the Fed would raise benchmark interest rates by a quarter percentage point next week increased following the report. The report shows a mix of increases and decreases in various sectors, with shelter costs accounting for the largest increase in the CPI. The Fed is expected to prioritize price stability over growth and likely hike rates by 0.25% at the upcoming meeting.
Sentiment: MIXED
Keywords: jerome powell, business news, economy, dow jones industrial average, u.s. 2 year treasury, breaking news, breaking news: economy,
Source: https://www.cnbc.com/2023/03/14/cpi-inflation-february-2023-.html