Breaking: US CPI inflation softens to 2.8% in February vs. 2.9% forecast
As measured by CPI, inflation in the US is set to rise at an annual pace of 2.9% in February, down slightly from 3.0% reported in January. Core CPI inflation, which excludes the volatile food and energy categories, is expected to ease to 3.2% in the same period from a year earlier, compared to a 3.3% growth in January.
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The Labor Department released the consumer price index for February which found inflation was 2.8%, in line with economists' expectations ahead of the next Federal Reserve meeting.
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