US: February CPI did not show many signs of cooling – Wells Fargo – by MSalordFX CPI Inflation UnitedStates
rose 0.4% in February, as expected, while the annual rate slowed from 6.4% to 6%. Analysts at Wells Fargo argue the report did not show many signs of cooling in consumer inflation and warn there were only a few positive developments in the data.“Consumer price inflation did not show many signs of cooling in the February CPI. There were only a few positive developments in the data. Prices at the grocery store rose just 0.3%, the smallest increase since March 2021.
“But beyond these pockets of improvement, core CPI inflation remained entrenched at uncomfortably high levels. With core CPI up 0.5% in February, it is rising at an annualized rate of more than 5% whether measured on a 1-month, 3-month or 12-month basis.” If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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