US CPI stood at 1.7% during February
The region's consumer price index showed an increase of three tenths, compared to 2019
The consumer price index (CPI) of the United States stood at 1.7 % last February, three tenths above the year-on-year inflation rate registered the previous month. It represents the highest price increase in the country since February 2020, according to data published this Wednesday by the Labor Department’s labor statistics office.
In the last twelve months, energy became more expensive by 2.4 %, while food rose 3.6 % year-on-year. The core inflation rate, without taking into account the impact of energy and food, stood at 1.3 % in February, one tenth below the previous month’s reading.
In monthly terms, the United States posted inflation of 0.4 %, one tenth more than in January and the highest in monthly terms since August 2020. On its side, the core rate rose to 0.1 % in February, after being stable during the previous two months.
US Treasury Secretary Janet Yellen played down fears that the new $ 1.9 trillion stimulus package promoted by president Joe Biden could cause the economy to overheat and lead to strong rising prices.
In this sense, the head of the US Treasury assured this week in statements to the MSNBC chain that, in the event that the plan had inflationary effects, “there are tools to deal with it, and it will be closely monitored.”
K. Tovar
Source: DailyFX
