The Consumer Prices Index (CPI) in February showed that inflation pressure fell in February, calming some concerns about the health of the US economy within a few rocky weeks for the markets.
The latest data from the Labor Statistics Office showed that the Consumer Prices Index (CPI) increased by 2.8 % than the previous year in February, which is 3 % less than annual profit in January and before economists’ expectations with an annual increase by 2.9 %.
The index increased by 0.2 % during the previous month, leaving a 0.5 % increase in January and a recovery compared to economists’ estimates from a monthly increase of 0.3 %.
On the basis of “basic”, which comes out the most volatile costs of food and gas, prices increased in February by 0.2 % during the previous month, less than a monthly profit by 0.4 %, and 3.1 % over last year – a less annual increase in the basic consumer price index since April 2021.
This also represents a 3.3 % basic increases in the previous period, and was before the estimates of the Bloomberg consensus.
Read more: $ 6 eggs and other inflation pain points: Here prices rise
This was the first time since July that the main address and the main CPI have shown a slowdown in price growth.
“The inflation report today brings some relief that is needed for stock markets, and avoids immediate concerns about stagnation and giving the federal reserve space to reduce politics in the coming months if economic data continues to deteriorate,” said Sima Shah, chief international strategic expert in the management of the main assets, in response to the data.
“Certainly, with an unusually high policy, the retail companies began to be reputable about warning bells on spending on consumers, and stagnation related to climbing, there is a strong possibility that the Federal Reserve needs to enter relatively soon.”
Basic inflation remained stubborn due to the sticky costs of shelter and services such as insurance and medical care. But the shelter showed other signs of dilution in February, as it rose by 4.2 % on an annual basis, and it is 12 months old since December 2021.
On a monthly monthly basis, the shelter index increased by 0.3 % compared to an increase of 0.4 % in January. Likewise, each of the rental and equivalent owners (OER) increased by 0.3 % during the previous month. The equivalent lease is the virtual rent that the owner of the house will pay for the same property.
“Housing enlargement is historically” smaller “for inflation, which means that it takes longer for price trends. “The last trend in housing prices makes us optimistic about the future path of inflation.”
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Meanwhile, the power index increased by 0.2 % months after a month of jumping by 1.1 % in January. On an annual basis, the power index decreased by 0.2 %, as it decreased due to gas prices, which decreased by 1 % after an increase of approximately 2 % in the previous month.
In addition to the fall in gas prices, a 4 % decrease in the airline price index also helped reduce the address number last month.
It is worth noting that food prices showed some signs of slowdown after a few sticky readings, and rose 0.2 % last month after a 0.5 % jump in January. However, egg prices continued to rise – another 10.4 % increase after 15.2 % to start the year, due significantly to bird flu that affect the width. On an annual basis, egg prices have increased by 58.8 %, as economists warn that there are probably pain.
“In 2015, bird influenza caused an increase in egg prices that lasted for several months, so we must expect egg prices to remain high in the short term,” said Jeffrey Roche, Senior Economist at LPL Financial, said.
Other indexes that have increased during the month include medical care, used cars, trucks, home furnishings, operations, entertainment, clothing, and personal care, according to The BLS.
Alexandra channel He is a major correspondent in Yahoo financing. Follow it on x Allie_ANALand LinkedIn, And send it by email to Alexandra.ANAL@yahoofinance.com.
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