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03-13-2019, 03:51 AM
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Inflation perks up in February to four-month high, CPI shows
 Getty ImagesRising gasoline prices contributed to higher Inflation 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 consumer price index climbed 0.2% in February following three straight months of no change, the government said Tuesday. That matched the forecast of economists polled by MarketWatch. 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.  Another closely watched measure of Inflation that strips out food and energy rose 0.1% last month, the smallest advance since last August. The yearly increase in the so-called core rate also slowed a tick to 2.1%. What happened: Gasoline prices edged up for the first time in four months and the cost of food rose sharply in February. Already-high rents also increased and the price of clothes jumped 1.1%. Americans paid lower prices for prescription drugs, medical care and new and used cars, however. Even the recent increase in food and gas prices suggest little to worry about. The cost of gas, for example, has fallen almost 9% in the past year and grocery prices have risen just 1.2% in the same span. 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. After adjusting for inflation, hourly wages for American workers rose 0.3% in February. They have risen 1.9% in the past year â?? the fastest pace since the fall of 2015. Read: Worker wages post biggest increase in wages in 10 years The big picture: Inflation waned enough toward the end of 2018 and price pressures remain muted, largely because of lower energy costs. The low rate of Inflation has been a boon for U.S. households and itâ??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 bankâ??s thinking. Read: Bill Gates finds an ally in Washington for taxing robots: Alexandria Ocasio-Cortez <strong/> Also Read: The rise of the robots and decline of inflation: How AI is keeping prices low What they are saying â??Letâ??s all yawn together after reading todayâ??s CPI release,â?* said economist Avery Shenfeld at CIBC World Markets. â??Inflation hasnâ??t been the focal point for markets, and Februaryâ??s slightly softer than expected U.S. readings suggest that itâ??s going to remain a non-issue for a while.â?* Market reaction: The Dow Jones Industrial Average DJIA, +0.79% and S&P 500 SPX, +1.47% آ*were set to open higher in Tuesday trades. The 10-year Treasury yield TMUBMUSD10Y, -0.31% was flat at 2.65%. Lending rates for mortgages, auto and most other loans are tied to changes in the 10-year note, whose yield has fallen from a seven-year high of 3.23% in October. Source link More ??????? ??????: Inflation perks up in February to four-month high, CPI shows || ??????: ahlam1399 || ??????: اسم منتداك
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