THE BASIS POINT

CPI: +0.2% for February, 0.2% YOY

 

The US Consumer Price Index, which measures inflation at the consumer level of the economy, was +0.4% in February and +0.2% year-over-year through February. Excluding volatile oil and food costs from the readings, “Core” CPI for February was +0.2% and +1.8% YOY through February. Here’s the December CPI report which includes complete CPI numbers for 4Q2008. You can also view and download historical CPI data by scrolling down to our Data section on the right side of the site.

Inflation is within the Fed’s comfort zone of 1-2% but it was hotter than anticipated. For now the biggest news affecting markets isn’t this inflation data but rather the FOMC announcement coming this afternoon.

 

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