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Rising gas prices pushed up inflation in February (www.cnn.com)

submitted 10 months ago by MicroWave to c/economics

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Higher prices at the gas pump pushed up inflation more than expected in February, according to the latest Consumer Price Index from the Bureau of Labor Statistics.

However, stripping out categories that have more wild price swings — such as gasoline — inflation did slow in some key areas, fueling a touch of positive news for the Federal Reserve and consumers alike.

Overall, the closely watched inflation gauge showed that prices rose by 3.2% for the 12 months ended in February, the BLS said Tuesday. That’s up from January’s annual reading of 3.1%, and higher than economists’ expectations.

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[–] dragontamer 3 points 10 months ago

And people wanted a rate cut in March....

Fed might be too nervous to raise interest rates during the election cycle. But any more +inflation and they might be forced to do so