US consumer prices slow in February; rents moderate
Updated:7 years, 7 months ago
New Delhi, Mar 14 (ANI): Consumer prices cooled in February which is a sign of relief for inflation-focused investors. Prices at the pump fell nearly 1 percent, and rental costs moderated. That resulted in a 0.2 percent rise in the Consumer Price Index, a slowdown from the 0.5 percent rise in January. Strip out volatile components food and energy, and prices rose 0.2 percent. Both were in line with economists' forecasts. FAO Economics chief economist Robert Brusca called it a "plain vanilla report," saying, "The acceleration stopped. I'm in the camp that inflation is under control. There are a lot of dynamics in place to keep it down." Equity investors celebrated the inflation data, sending stocks up sharply at the market open Tuesday. Treasury yields edged lower.
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