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In February, the US Consumer Price Index (CPI) grew below market expectations for its core index, which excludes volatile food and energy. The costs of used cars, clothing and transportation services fell month by month. It was suggested that general inflationary pressures remained under control.
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Silenced price pressures
US core inflation increased 0.1% less than expected in February
Source: Bureau of Labor Statistics
Inflation is expected to accelerate in the coming months, although the core index figures were lower than expected. The background is vaccination efforts leading to additional economic measures, increased income and resumption of business activities.
Prices of goods, excluding food and energy, fell 0.2% month-on-month, the lowest level since May last year. It increased by 1.3% compared to the same month of the previous year.
Clothing decreased 0.7% month-on-month. Used car prices have fallen 0.9% for the third month in a row and prescription drugs have fallen dramatically since July 2018.
Prices for non-power services rose 0.2%, the first increase in three months. Reflection of the increase in medical and housing costs. It increased by 1.3% compared to the same month of the previous year.
In February, energy costs rose 3.9% month-on-month, the highest growth since June last year, driving the headline CPI. Gasoline prices rose 6.4%. Electricity was up 0.7%, the biggest increase in five months. The demand for heating increased due to the cold weather.
Food prices rose 0.2%. It increased by 3.6% compared to the same month of the previous year.
Average real hourly wages adjusted for inflation, announced separately, increased 3.4% year-on-year in February.
See the table for details of the statistics.
Original title:US core CPI rises less than estimates, easing inflation alarms （抜 粋）
(Add and update statistics details)
