Inflation eased in February as price pressures on consumer staples like gasoline, groceries, and housing subsided, according to CNBC. The consumer price index rose 2.8% year-over-year, down from 3% in January the Bureau of Labor Statistics reported Wednesday.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02In February, as price pressures on consumer stables like gasoline, groceries, and housing
00:06subsided. And according to CNBC, consumer price index rose 2.8% year over year, down from 3% in
00:13January, the Bureau of Labor Statistics reported on Wednesday. Economists view the decline as
00:17encouraging, but caution that inflation remains above the Federal Reserve's 2% target. Housing
00:23inflation reached its lowest level in over two years, while gasoline prices declined both monthly
00:28and annually. Tariffs imposed by President Donald Trump on steel and aluminum imports
00:33raise concerns about potential cost increases for businesses and consumers.