PiCK
US February CPI up 2.4%…in line with market expectations
Summary
- The Bureau of Labor Statistics said February Consumer Price Index (CPI) rose 2.4% year on year, matching economists’ forecasts.
- Core CPI, which excludes food and energy, rose 2.5% year on year, in line with expectations.
- The CPI reflects only February price increases and does not include the impact of the recent rise in global oil prices after US and Israeli airstrikes on Iran.
Forecast Trend Report by Period
The US Consumer Price Index (CPI) inflation rate for February came in in line with market expectations.
The Bureau of Labor Statistics (BLS), under the US Department of Labor, said on the 11th (local time) that last month’s CPI rose 2.4% year on year, matching the consensus estimate (2.4%) compiled by Dow Jones. On a month-on-month basis, it increased 0.3%.
Core CPI, which excludes volatile food and energy prices, rose 2.5% from a year earlier, in line with economists’ forecasts (2.5%). It rose 0.2% month on month.
Meanwhile, the CPI released that day reflects price increases during February only. It did not incorporate the impact of the upswing in global oil prices after the United States and Israel began airstrikes on Iran on the 28th of last month.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
