US annual CPI data declines to 6% in February as expected

The US Bureau of Labor Statistics reported on Tuesday that inflation in the United States, as measured by the Consumer Price Index (CPI), declined to 6% on a yearly basis in February from 6.4% in January. This reading came in line with the market expectation. On a monthly basis, the CPI was up 0.4%, matching analysts’ estimate.

The Core CPI, which excludes volatile food and energy prices, rose 0.5% on a monthly basis, compared to the market forecast of 0.4%, bringing the annual rate down to 5.5% from 5.6%.

to be updated…