Wall Street Journal’s editor-elder Gery Baker convicted former President Biden for inflation on the importance of making tax cuts permanent and during his Congress address.
Inflation became a bit cold in February, even the speed of price hike was above the target of the Federal Reserve before the Central Bank’s policy meeting next week.
The Labor Department said on Wednesday that the Consumer Price Index (CPI) – compared to last month, in February, how much everyday goods are a comprehensive solution like gasoline, grocery and rental costs such as everyday items, while it increased by 2.8% on an annual basis.
Both annual and monthly growth in headline inflation were colder than the expectations of LSEG economists.
The so -called core prices, which include more unstable measurements of gasoline and food to better assess the price increase trends, were slower than the estimates of the Economists, 0.2% from the former month and 3.1%, LSEG economists.
The report showed that inflation pressure in the US economy has been continuously continuously despite progress in bringing inflation close to 2% of the Federal Reserve in the last few years.
High inflation has created severe financial pressure for most American homes, which are forced to pay more for everyday requirements such as food and rent. Price growth for low -income Americans is particularly difficult, as they spend more to their already stretched petchecs on requirements and have less flexibility to save money.
Food prices rose 0.2% in February. Index for food at home was unchanged in a month and up to 1.9% in the last 12 months.
Egg prices were 10.4% on a monthly basis in February, while meat, poultry and fish prices rose 0.5%. Prices for fruits and vegetables as well as nonclogic drinks fell by 0.5% in February. Dairy prices saw a major decline of 1% for the month.
This is a developing story. Please check back for updates.
