Consumer prices rose 0.4% in February and 3.2% from a year ago
Source: CNBC
Published Tue, Mar 12 2024 8:31 AM EDT Updated Moments Ago
Inflation rose again in February, keeping the Federal Reserve on course to wait at least until the summer before starting to lower interest rates.
The consumer price index, a broad measure of goods and services costs, increased 0.4% for the month and 3.2% from a year ago, the Labor Department’s Bureau of Labor Statistics reported Tuesday. The monthly gain was in line with expectations, but the annual rate was slightly ahead of the 3.1% forecast from the Dow Jones consensus.
Excluding volatile food and energy prices, core CPI increased 0.4% on the month and was up 3.8% on the year. Both were one-tenth of a percentage point higher than forecast.
While the 12-month pace is off the inflation peak in mid-2022, it remains well above the Fed’s 2% goal as the central bank approaches its two-day policy meeting in a week. A 2.3% increase in energy costs helped boost the headline inflation number. Food costs were flat on the month, while shelter rose another 0.4%.
Read more: https://www.cnbc.com/2024/03/12/cpi-inflation-report-february-2024-.html
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8:32 AM · Mar 12, 2024
Article updated.
Previous article -
Inflation rose again in February, keeping the Federal Reserve on course to wait at least until the summer before starting to lower interest rates.
The consumer price index, a broad measure of goods and services costs, increased 0.4% for the month and 3.2% from a year ago, the Labor Department's Bureau of Labor Statistics reported Tuesday. The monthly gain was in line with expectations, but the annual rate was slightly ahead of the 3.1% forecast from the Dow Jones consensus.
Excluding volatile food and energy prices, core CPI increased 0.4% on the month and was up 3.8% on the year. Both were one-tenth of a percentage point higher than forecast.
While the 12-month pace is off the inflation peak in mid-2022, it remains well above the Fed's 2% goal as the central bank approaches its two-day policy meeting in a week. A 2.3% increase in energy costs helped boost the headline inflation number. Food costs were flat on the month, while shelter rose another 0.4%.
This is breaking news. Please check back here for updates.
Original article -
The consumer price index was expected to increase 0.4% in February and 3.1% from a year ago, according to Dow Jones consensus estimates.
This is breaking news. Please check back here for updates.
= new reply since forum marked as read
I opted to turn it all off for a month in February.
Some people around here pay over $1,000.00 a month to heat their homes.
The inflation is way out of hand.
Everything is up!
How people live on $1,000.00 a month is beyond me.
I'm going down fast here and no, I don't have any bills overdue as I pay them off.
I had an income tax return due and they needed a schedule 1 from me to process it which I sent back to them on Saturday.
Not everyone has a fax machine and a Smart Phone. I don't as I cannot afford it.
I lay in bed worrying myself to death and I mean that.
I've lost 20 lbs. and have low blood sugar as I'm unable to eat the food in the "Mediterranean diet" they want me to be on. Fresh food isn't cheap and the $23 I get in food stamps does not go far!
I am one of many others and I know it. Sad reality for those on fixed incomes that are disabled, elderly, etc. 
& recommend.
