US Core CPI Tops Estimates, Pressuring Fed as It Weighs Hike

US Core CPI Tops Estimates, Pressuring Fed as It Weighs Hike

US inflation is still too high for the Fed’s comfort at a time when banks are failing. This raises the question: will the Fed keep hiking interest rates at its next meeting? Bloomberg’s Kristine Aquino explains the shift in the market’s thinking.

Underlying US consumer prices rose in February by the most in five months, forcing a tough choice for Federal Reserve officials weighing still-rapid inflation against banking turmoil in their next interest-rate decision.

The consumer price index, excluding food and energy, increased 0.5% last month and 5.5% from a year earlier, according to Bureau of Labor Statistics data out Tuesday. Economists see the gauge — known as the core CPI — as a better indicator of underlying inflation than the headline measure.

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