February CPI Above Expected at +0.1%; Core..>

US DATA: February CPI Above Expected at +0.1%; Core +0.2%

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-Feb CPI +0.1%, Core +0.2%; CPI Y/Y +2.3%, Core Y/Y +2.4%

-Feb Unrounded Core CPI Pct Chg +0.22291% V Jan +0.20871%

-Feb Unrounded CPI Pct Change +0.08886% Vs Jan +0.12340%

-Feb CPI Energy Prices -2.0%; Total CPI Ex-Energy+0.2%

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US CPI rose by +0.1% for the second straight month, outpacing market 

expectations for no change. Core CPI at +0.2% was in line with market 

expectations and matched January. Food and shelter drove the headline 

gain, offsetting a decline in energy prices (-2.0%). Gasoline saw a 

-3.4% drop, which came ahead of this week's historic drop in oil prices 

after an OPEC dispute. Food at home +0.5% saw largest increase since May 

2014. 

February's core CPI growth featured increases in apparel (+0.4%), 

personal care (+1.1%), medical care (+0.1%), education (+0.3%), and used 

cars and trucks (0.4%). Transportation and airfare prices dropped -0.5% 

and -0.3% (respectively) as consumers began to shift their behavior in 

response to the Covid-19 outbreak. February also saw a -0.8% decline in 

prescription drug prices, a sector which will likely receive close 

scrutiny this election season.