February CPI (Consumer Price Index)
No major surprises, slightly higher than expected, the markets have mostly shrugged it off, the futures are still 0.5 to 0.6% higher, and the 10 year is also holding steady at 4.10.
- The Consumer Price Index advanced 0.4% in February, matching the 0.4% increase expected and slightly accelerating from the 0.3% rise in January (unrevised).
- On a Y/Y basis, the measure rose 3.2%, more than the 3.1% pace expected and +3.1% in the prior month.
- Excluding food and energy, core CPI increased 0.4% vs. +0.3% consensus and +0.4% prior. Y/Y, core inflation gained 3.8% vs. +3.7% expected and +3.9% prior.
A 2.3% increase in energy costs helped boost the headline inflation number. Food costs were flat on the month, while shelter rose another 0.4%.