Inflation slowed down USA in February to 6.0% year-on-year, its lowest level in almost a year and a half, at a time when the fed (central bank), in charge of stopping the rise in prices, is against a rock and a hard place after the bankruptcy BLS.
On a month-over-month basis, inflation fell to 0.4%, in line with analysts’ expectations, after picking up in January, according to the CPI index released Tuesday by the Labor Department.
But even though this was the smallest year-on-year rise since September 2021, the level remains well above policymakers’ long-term 2% target.
“The housing index was the largest contributor…representing more than 70% of the increase”the department said in a statement.
The Fed has waged an aggressive campaign to rein in runaway inflation, raising interest rates eight times since the beginning of last year to ease demand.
While Fed Chairman Jerome Powell initially said the central bank is prepared to increase the pace of rate hikes if necessary as economic data remains positive, the Silicon Valley Bank collapse last week and New York-based Signature Bank can make it stop these hikes.
Source: AFP
Source: Gestion
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