Summary
TLDR: The U.S. Consumer Price Index rose faster than expected last month, with the year-over-year pace up to 3.2% and the core rate at 3.8%, higher than estimates.
Key Points
1. The U.S. Consumer Price Index rose faster than expected last month, with the year-over-year pace up to 3.2% versus estimates for 3.1% and January’s 3.1%, according to government reports.
2. The core rate, which excludes food and energy costs, also exceeded expectations, coming in at 3.8% compared to estimates of 3.7%.
3. This data suggests that inflation in the U.S. is higher than anticipated, which may have implications for monetary policy and consumer spending.