Breaking: US annual CPI inflation rises to 7.9% in February versus 7.9% expected
|Inflation in the US, as measured by the headline Consumer Price Index (CPI), rose to 7.9% YoY in February, up from 7.5% in January, the US Bureau of Labor Statistics reported on Thursday. That was in line median economist forecasts for a reading of 7.9%. The MoM pace of headline price growth was also in line with median economist forecasts at 0.8%, up from January's 0.6% MoM pace of growth. Core CPI came in at 6.4% YoY (in line with expected), up from January's 6.0% reading. MoM, rose at a pace of 0.5%, in line with expected and a tad slower after January's 0.6% MoM reading.
Market Reaction
FX markets do not seem to have reacted much to the latest US CPI release. If anything, the dollar is coming off a little. Perhaps some traders had been positioned for an upside surprise (i.e. for headline YoY CPI above 8.0%). The DXY is currently dropping back a little from the 98.00 level. But focus has now turned to remarks from ECB President Christine Lagarde in her post-ECB meeting press conference.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.