The latest CPI report was released by the Bureau of Labor Statistics.
Transcript:
Caroline Woods: While the prices for goods and services still got more expensive in February, they got a bit less expensive than predicted. The latest Consumer Price Index rose 0.2 percent last month — putting the annual inflation rate at 2.8 percent before seasonal adjustment.
Core inflation, which excludes food and energy prices, also increased by the same amount – leaving it with a year-over-year rate of 3.1%. Both readings were cooler than Wall Street estimates by a tenth of a percent.
The new report released by the Bureau of Labor statistics revealed food prices ticked up 0.2 percent in February. However, the cost of going out to eat increased twice as much at 0.4 percent.
The energy sector also rose two-tenths of a percent, but the cost of electricity rose significantly higher at 2.5 percent. And while the cost of a new vehicle dropped a tick, used car and truck prices rose almost a full percent.
The report is welcome news to both consumers and businesses, as it at least tampered the fears of how impending tariffs may affect the broader economy.
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