CPI 2.1% YOY To February, Core CPI 1.3% YOY, Inflation Flat, Rates Steady (charts, data downloads)

The US Consumer Price Index, which measures inflation at the consumer level of the economy, was unchanged in February and 2.1% year-over-year through February. Excluding volatile oil and food costs from the readings, “Core” CPI for February increased 0.1% and increased 1.3% YOY through February. You can automatically create charts and download historical CPI data by scrolling to our data section on the right side of the site, or visiting our Data page.

Consumer inflation for the month is within the Fed’s comfort zone of 1-2% and was again less than expectations. If you click on the ‘All CPI, Month’ link in our Data section, it will display a chart at the top of the section where you can see how the volatility of food and especially energy prices causes inflation swings month to month. When this happens traders react accordingly. Mortgage rates are tied to bond trading and bonds normally rally on low inflation news (pushing rates down), but today markets are also contending with a better than expected Philly Fed number and yesterday’s announcement of next week’s Treasury auctions, and mortgage bonds are down. You can always see all stats on our Economic Calendar page, and click each release title for the definition of what each stat means.