CPI shows U.S. retail-level inflation rate of 0.2% in February
The numbers: Americans paid more for rent, food, gas and clothes in February, triggering the biggest increase in inflation in four months. But the cost of living more generally is still rising very slowly.
The increase in the cost of living over the past year, however, slowed again to 1.5% from 1.6%. The rate of inflation has throttled back sharply since hitting almost 3% last summer. The biggest increase in food has taken place outside the home at restaurants and other places that prepare meals. The cost of prepared food has jumped nearly 3% in the past year.
The low rate of inflation has been a boon for U.S. households and it’s also given the Federal Reserve the leeway to put further increase in interest rates on hold indefinitely. The February inflation report is unlikely to alter the central bank’s thinking. Also Read: The rise of the robots and decline of inflation: How AI is keeping prices low
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