In February 2024, the Consumer Price Index (CPI) rose by 0.4%, reaching 3.2% year-over-year, exceeding expectations. Core CPI also increased, hitting 3.8% year-over-year. The surge was mainly driven by housing and gasoline prices. Shelter costs were up by 5.8% year-over-year, with rent and homeownership costs seeing monthly and annual increases.
The shelter index, a major component of the CPI, rose by 5.7% in February YoY and experienced a 0.5% monthly increase. Breaking down this index shows a 0.5% monthly rise in rent and a 0.4% increase in homeownership costs, with annual increases of 5.8% and 6%, respectively. https://t.co/2ilK3y8jMt
February saw the CPI climb to 3.2% compared to the previous year, marking a slight increase from January's 3.1% YoY rise. This uptick is attributed predominantly to housing and gasoline prices, which collectively contributed to over 60% of the monthly inflation surge. https://t.co/yJB7Ym6GXK
Headline inflation increased +0.4% MoM in Feb to 3.2% YoY (3.1% est) largely driven by shelter & gasoline (60% of the monthly increase). Core inflation rose by +0.4% (+0.3% est) to 3.8% YoY, the lowest YoY reading since May 2021. https://t.co/G24B4yUFZ0
Prices increased by 3.2 percent in February despite being expected to remain steady. New Consumer Price Index (CPI) figures reported by t... Read more: https://t.co/1E7zPngoMS ⬆️ ⬆️ ⬆️
‘Shelter was up 5.8% year-over-year in February, down from 6.1% in January. Housing (PCE) was up 6.1% YoY in January, down from 6.3% in December. This is still catching up with private data. The BLS noted this morning: "The index for shelter rose in February, as did the index…
Prices rose 0.4% from January to February, a pickup from the previous month's figure of 0.3%. Compared with 12 months earlier, consumer prices rose 3.2% last month, faster than January's 3.1% annual pace. https://t.co/olam8R1LKE
Prices rose 0.4% from January to February, a pickup from the previous month’s figure of 0.3%. https://t.co/UzxwT9YGic
February U.S. headline CPI came in above expectations at 3.2% year-over-year (0.44% month-over-month) while core CPI comes in at 3.8% year-over-year (0.36% month-over-month) dampening the prospects for interest rate cuts from the Federal Reserve later this year https://t.co/cYOv7TbYkp
In the latest financial revelation, the #CPI for February 2024 emerged at 3.2% year-over-year, surpassing both the previous and forecasted figures of 3.1%. https://t.co/eiX6c2Syya
Inflation unexpectedly rose to 3.2% in February as Fed weighs rate cuts https://t.co/Y5c80yxsTZ https://t.co/Y5c80yxsTZ
February’s CPI is officially out! The CPI was up by 0.4%, just about what we expected. Although it is a little higher than we’d like to see compared to last year's 3.2%, overall, it's not too bad. https://t.co/MGmsLC4Z0L