Inflation unexpectedly creeps up

Inflation in the US rose 0.4% in February, driven by higher gasoline and shelter costs, indicating that inflation may not decrease as quickly as anticipated. US consumer prices increased by 3.2% in the 12 months through February, slightly faster than the 3.1% recorded in January. While inflation has slowed since its peak of 9.1% in June 2022, the rate of decline has stalled in recent months. The Federal Reserve remains cautious about lowering borrowing costs, with officials, including Chairman Jerome Powell, indicating no rush to do so.

March 12, 2024
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