Inflation Rate Cools , as Federal Reserve Weighs , Future Interest Rates.
In February, price growth in the United States cooled to reach an annual rate of 6% according to data released by the U.S. Bureau of Labor Statistics on March 14.
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In February, price growth in the United States cooled to reach an annual rate of 6% according to data released by the U.S. Bureau of Labor Statistics on March 14.
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NBC reports that the cooling is in line with economists' forecasts and lower than January's 6.4% when compared to the year before.
NBC reports that the cooling is in line with economists' forecasts and lower than January's 6.4% when compared to the year before.
According to the latest Consumer Price Index, inflation continued to rise in February by 0.4%.
However, this is less of an increase than January's 0.5% price increase.
Similarly, energy costs continued to increase with a 5.2% climb in February, compared to an 8.7% increase in January.
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When it comes to the price of food, costs have continued to increase in February by 0.4%.
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Compared to the same time in 2022, the cost of food has increased a staggering 9.5%.
NBC reports that the news comes just days after the collapse of Silicon Valley Bank and Signature bank.
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NBC reports that the news comes just days after the collapse of Silicon Valley Bank and Signature bank.
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In the wake of the collapse, economists see the Federal Reserve would make smaller hikes to its key federal funds rate or halt the series of increases altogether.
A rate pause next week may give the Fed the space to wait for financial stability concerns to hopefully settle, before resuming hikes next meeting.
, Seema Shah, Chief global strategist at Principal Asset Management, via NBC
