AssetID: 53562711
Headline: UNCAPTIONED: Consumer Prices Rose 0.4% in February
Caption: Consumer Prices Rose 0.4% in February. The Bureau of Labor Statistics released its latest data on March 12. In February 2024, prices rose 0.4% compared to January and 3.2% year-over-year, according to the Consumer Price Index (CPI). The figures, which are greater than expected, represent the biggest monthly increase since September, Yahoo Finance reports. The index for housing rent rose 0.5% in February. Gas prices rose 3.8%. While food prices held steady for the month, they increased 2.2% year-over-year. The Federal Reserve will use the latest data to help determine its position on interest rates on March 20. Experts predict that rates will remain unchanged for the time being. The market is now eyeing June for the possibility of rate cuts, Yahoo Finance reports. Fed Chair Jerome Powell recently said that while interest rates will likely be cut "at some point this year," "a little bit more data" is needed. THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Consumer,Prices,Rose,February,March,January,CPI,Consumer Price Index,Yahoo Finance,Monthly,Increase,Money,Economy,Latest,Data,Bureau of Labor Statistics,Fed Chair,Jerome Powell
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