Financial News: U.S. Consumer Prices Rise Slightly Less Than Expected

U.S. Consumer Prices Rise Slightly Less Than Expected In February

03/29/2024 - 08:41:00 (RTTNews)

(RTTNews) - Consumer prices in the U.S. increased by slightly less than expected in the month of February, according to a highly anticipated report released by the Commerce Department on Friday.

The Commerce Department said consumer prices rose by 0.3 percent in February after climbing by an upwardly revised 0.4 percent in January.

Economists had expected consumer prices to advance by 0.4 percent compared to the 0.3 percent increase originally reported for the previous month.

Meanwhile, the report said the annual rate of consumer price growth ticked up to 2.5 percent in February from 2.4 percent in January, in line with estimates.

Excluding food and energy prices, core consumer prices also rose by 0.3 percent in February after climbing by an upwardly revised 0.5 percent in January. The increase matched expectations.

The annual rate of core consumer price growth slowed to 2.8 percent in February from an upwardly revised 2.9 percent in January.

Economists had expected the pace of core price growth to come in unchanged compared to the 2.8 percent originally reported for the previous month.

The readings on inflation, which are said to be preferred by the Federal Reserve, were included in the Commerce Department's report on personal income and spending in February.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Eurozone Consumers' 12-Month Inflation Expectations Lowest Since Dec 2021 - ECB (22 min(s), 52 sec(s) ago)
(RTTNews) - Euro area consumers' inflation expectations for the next 12 months hit their lowes ...Full Story»

U.S. Consumer Sentiment Dips More Than Previously Estimated In April (18 min(s), 52 sec(s) ago)
(RTTNews) - Revised data released by the University of Michigan on Friday showed consumer sentimen ...Full Story»

U.S. Consumer Prices Rise 0.3% In March, Annual Growth Accelerates To 2.7% (28 min(s), 52 sec(s) ago)
(RTTNews) - Closely watched readings on inflation released by the Commerce Department on Friday sh ...Full Story»

Spain Unemployment Rate Rises In Q1 (52 sec(s) ago)
(RTTNews) - Spain's unemployment rate increased at the start of the year, quarterly data from ...Full Story»

U.S. Consumer Prices Rise In Line With Estimates In March (41 min(s), 52 sec(s) ago)
(RTTNews) - Closely watched readings on inflation released by the Commerce Department on Friday sh ...Full Story»

Russia Central Bank Keeps Key Rate Unchanged (32 min(s), 52 sec(s) ago)
(RTTNews) - Russia's central bank left its key interest rates unchanged for the third consecut ...Full Story»

Austria Manufacturing Downturn Continues In April (37 min(s), 08 sec(s) ago)
(RTTNews) - Austria's manufacturing activity deteriorated further in April, though the pace of ...Full Story»

Eurozone Private Sector Credit Growth Remains Weak (01 hr(s), 08 min(s), 08 sec(s) ago)
(RTTNews) - Eurozone private sector credit continued to increase in March but the pace of recovery ...Full Story»