US CPI Matches Expectations
US CPI came in at 2.4%, aligning with forecasts and indicating steady inflation trends.
The February CPI remained unchanged at 2.4%, matching forecasts, but this data was collected before the recent escalation of conflict in Iran. Rising energy costs due to the conflict are expected to impact future inflation reports. Gasoline prices are already up, with the average cost in the U.S. at $3.58 per gallon, compared to $3 before the war. Experts suggest gas prices are unlikely to return to pre-war levels due to seasonal factors and broader implications for the U.S. economy. The Federal Reserve is likely to remain cautious about cutting interest rates in light of rising gas and oil prices. The Fed will meet next week to decide on interest rates. The core CPI, excluding food and energy, rose 2.5% year-over-year, also unchanged from January. Food prices increased 0.4% in February, while energy prices rose 0.6%.
