US Inflation Data for February Shows Modest Uptick, Supporting Fed's Monetary Policy

One Million Trade - 2024-03-12 12:30:00

The published data on US CPI and Core CPI for the month of February came in line with expectations, showing a slight increase from the previous month. The YoY inflation rate also slightly exceeded forecasts, indicating a modest uptick in price levels. This data suggests that inflationary pressures in the US economy remain relatively stable, which could potentially support the Federal Reserve's current monetary policy stance of gradual interest rate hikes. The slight increase in inflation could also reflect improving consumer demand and economic activity, as evidenced by the recent positive readings in nonfarm payrolls and GDP growth.

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