Excluding the volatile food and energy components, the CPI edged up 0.1% — the smallest increase since August 2018
People shop at Macy's in New York City, US, March 11 2019. Picture: REUTERS/BRENDAN MCDERMID
The consumer price index increased 0.2%, lifted by gains in the costs of food, fuel and rents. The CPI had been unchanged for three straight months. In the 12 months through February, the core CPI rose 2.1%. The core CPI had increased by 2.2% for three consecutive months on an annual basis. Economists polled by Reuters had forecast the CPI and the core CPI edging up 0.2% in February.
US stock index futures rose while US Treasury yields edged lower after the release of Tuesday’s data. The dollar pared gains against the yen and extended losses against the euro. Owners’ equivalent rent of primary residence, which is what a homeowner would pay to rent or receive from renting a home, increased 0.3% in February, as it did in January.
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