February 2024 Consumer Prices Increase by 0.4% 📈

Consumer Prices , Rose 0.4% in February.<br />The Bureau of Labor Statistics released <br />its latest data on March 12.<br />In February 2024, prices rose 0.4% <br />compared to January and 3.2% year-over-year, according to the Consumer Price Index (CPI).<br />The figures, which are greater than expected, represent the biggest monthly increase since September, Yahoo Finance reports. .<br />The index for housing rent rose 0.5% in February.<br />Gas prices rose 3.8%.<br />While food prices held steady for the month, they increased 2.2% year-over-year.<br />The Federal Reserve will use the latest data to help determine its position on interest rates on March 20. .<br />Experts predict that rates will <br />remain unchanged for the time being.<br />The market is now eyeing June for the possibility of rate cuts, Yahoo Finance reports. .<br />Fed Chair Jerome Powell recently said <br />that while interest rates will likely <br />be cut "at some point this year," <br />"a little bit more data" is needed.