Inflation Holds Steady At 2.4% In February, Before Iran War Sent Fuel Prices Higher

U.S. consumer inflation held steady in February, with prices rising at an annual pace consistent with market expectations, according to government data released Wednesday.

The Consumer Price Index (CPI) rose 2.4% year over year, the latest figures from the U.S. Bureau of Labor Statistics showed, matching both January's reading and economists' esimates.

On a monthly basis, consumer prices increased 0.3%, a modest acceleration from 0.2% in January, but still broadly in line with forecasts.

Core inflation ? which strips out the more volatile food and energy components ? also remained unchanged, coming in at 2.5% annually, again matching both the previous reading and consensus expectations.

It is worth noting that the data were collected before the outbreak of the war in Iran, which has since pushed gasoline and diesel prices sharply higher, meaning the latest CPI figures may not yet capture the inflationary impact of the recent spike in energy markets.

This is a developing story…

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