US inflation rises more than expected in February: What will the Fed do next?
Inflation in the United States saw a sharper-than-anticipated rise in February, echoing the unsettling trend seen in January and sending worrying signals about the likelihood of imminent Federal Reserve rate cuts. The Consumer Price Index (CPI), as reported by the Bureau of Labor Statistics, climbed by 3.2% year-on-year in February 2024, slightly exceeding the 3.1% increase recorded in January and surpassing forecasts which also stood at 3.1%.Month-on-month, inflation rose as anticipated by 0.4%, a quickening on January's 0.3% pace. Excluding volatile components like energy and food, the core ...