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MNI BRIEF: US Feb Core CPI Tad Hotter Than Expected

(MNI) WASHINGTON

Shelter inflation reaccelerated to 0.8% over the month, accounting for 70% of the rise in headline CPI.

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U.S. core CPI inflation added 0.5% in February, a tenth higher than markets expected, as shelter reaccelerated to a stronger-than-forecast 0.8% increase. Headline CPI met expectations, rising 0.4% over the month and 6.0% over the year, the smallest increase since September 2021. Core CPI is up 5.5% from a year ago, the lowest since December 2021.

Shelter contributed to over 70% of the rise in headline CPI, the Bureau of Labor Statistics said Tuesday. Recreation, household furnishings and operations and air fares also increased, while used cars and trucks and medical care both fell over the month. (See: MNI INTERVIEW: Inflation Proves More Persistent - Fed's Garriga)

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U.S. core CPI inflation added 0.5% in February, a tenth higher than markets expected, as shelter reaccelerated to a stronger-than-forecast 0.8% increase. Headline CPI met expectations, rising 0.4% over the month and 6.0% over the year, the smallest increase since September 2021. Core CPI is up 5.5% from a year ago, the lowest since December 2021.

Shelter contributed to over 70% of the rise in headline CPI, the Bureau of Labor Statistics said Tuesday. Recreation, household furnishings and operations and air fares also increased, while used cars and trucks and medical care both fell over the month. (See: MNI INTERVIEW: Inflation Proves More Persistent - Fed's Garriga)

Keep reading...Show less