While services inflation began to moderate and rent prices rose at a slower pace, "inflation still remains too hot for the Fed's liking," according to senior economist at Wells Fargo in Charlotte, North Carolina Sarah House.
The consumer price index, a key measure of inflation, rose 0.4% in February, up 6% from February 2022, the U.S. Bureau of Labor Statistics reported on Tuesday.
The Consumer Price Index in January increased by 6.4% compared to the same time last year, in what was the highest inflation numbers since October 2022, the Labor Department said Thursday.
