2024-03-14 00:05:00 ET
Summary
- The Bureau of Labor Statistics announced the Consumer Price Index (CPI) increased 0.4 percent in February and 3.2 percent year-over-year, exceeding many economists’ predictions.
- Much of the increase is due to shelter and gasoline prices, which the BLS reports accounted for “over sixty percent of the monthly increase in the index for all items.”.
- Inflation remains elevated, even omitting volatile energy and food prices. Core CPI rose 0.4 percent in February and 3.8 percent year-over-year.
By Alexander William Salter
There’s been another bump in the disinflationary road. The Bureau of Labor Statistics announced the Consumer Price Index ((CPI)) increased 0.4 percent in February and 3.2 percent year-over-year, exceeding many economists’ predictions. That’s up slightly from January’s 0.3 percent monthly and 3.1 percent annualized increases....
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Inflation Remains Elevated. Is Money Actually Tight?