Gasoline, shelter costs drive US inflation higher in February
U.S. consumer prices increased solidly in February amid higher costs for gasoline and shelter, suggesting stickiness in inflation that cast some doubts on whether the Federal Reserve would start cutting interest rates in June. February marked the second straight month of firmer inflation readings. Inflation-weary Americans, however, got some relief from their grocery bills, as food prices were unchanged. U.S. central bank officials, including Fed Chair Jerome Powell have indicated they are in no rush to start lowering borrowing costs. The higher cost of living is one of the key ...
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