Inflation Comes Hotter Than Expected for Second Straight Month

Published on March 12, 2024

The U.S. annual inflation rate has risen to a higher-than-expected 3.2 percent, underscoring the challenges policymakers face in reducing it to the 2 percent target. Economists had projected the consumer price index (CPI) to climb 0.4 percent in February, up from the previous month’s 0.3 percent reading. According to the Bureau of Labor Statistics (BLS), the monthly inflation rate rose 0.4 percent for the second straight month slightly higher than the consensus estimate of 0.3 percent. Core inflation, which omits the volatile energy and food indexes, eased from 3.9 percent to 3.8 percent. This also came in a bit higher than the market forecast of 3.7 percent. The core CPI jumped 0.4 percent, unchanged from January and topping the 0.3 percent projection....

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