News

US inflation rises to 2.5%, according to Fed’s target index

Stay informed with free updates

US inflation rose slightly to 2.5 per cent in February, according to the metric that the Federal Reserve uses for its target.

The rise in headline Personal Consumption Expenditures inflation, from 2.4 per cent in the year to January, was in line with market expectations. The Fed has a target of 2 per cent inflation.

The month-on-month figure rose 0.3 per cent, from a revised 0.4 per cent in January, the Bureau of Economic Analysis said.

The annual core measure, which strips out changes in energy and food prices, was 2.8 per cent, slightly lower than a revised figure of 2.9 per cent for January.

Markets had expected the core reading to remain flat. The core month-on-month measure was 0.3 per cent, from a revised 0.5 per cent in January.

This is a developing story

Articles You May Like

Arizona hockey team’s move to Utah may spark bond sales in both places
BlackRock steps up security for Larry Fink after ‘anti-woke’ backlash
Yen sinks to 34-year low after Bank of Japan holds interest rates near zero
How a Monaco hedge fund boss got tied up with an indebted English town
US set to impose sanctions on Israeli military unit over alleged human rights abuses