⚠️BREAKING: *U.S. CPI FALLS TO 6.0% IN FEBRUARY, AS EXPECTED, BUT CORE PRICES STILL STRONG 🇺🇸🇺🇸
consequently slowed much less than the headline rate, falling to 5.5% from 5.6% in February.
The cost of shelter rose by another 0.8% and accounted for over 70% of the total rise in prices. Food also continues to be a headache for consumers and the central bank. The price of food at home rose a relatively modest 0.3% but was up 10.2% from a year earlier, while the cost of eating out rose by 0.6% and was up 8.4%.
"Another hot core CPI print," tweeted Mike Konczal, director of macroeconomic research at the Roosevelt Institute, noting that the core price index is only moving sideways, rather than coming down as the Fed would like. Financial markets nonetheless reacted positively to the news, which at least failed to generate anything like the shock that January's overshoot had done. By 07:45 ET ,
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