The CPI increased by 0.4% in February compared to the previous month, and 6% YoY, in line with analysts’ expectations.
Core CPI, which excludes volatile food and energy prices, increased by 0.5% in February compared to the previous month and 5.5% YoY.
Markets reacted positively to the CPI report, with the Dow Jones, NASDAQ, and S&P 500 all up more than 1% in yesterday’s session.
Despite the current crisis in the banking sector, the Fed is still expected to hike interest rates for March when they meet next week.
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