Inflation & Prices
US Core Inflation Tops Forecasts Again, Reinforcing Fed Caution
- Consumer price index excluding food and energy climbed 0.4%
- February advance reinforces Fed’s caution in cutting rates
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Underlying US inflation topped forecasts for a second month in February as prices jumped for used cars, air travel and clothes, reinforcing the Federal Reserve’s cautious approach to cutting interest rates.
The so-called core consumer price index, which excludes food and energy costs, increased 0.4% from January, according to government data out Tuesday. From a year ago, it advanced 3.8%.