U.S. Core CPI Moderates in February, With Few Surprises in the Readings

Mar 14 00:03 2018 Print This Article

We saw little to surprise in

February’s U.S. Consumer Price Index (CPI) inflation print: Core CPI (excluding food and energy prices) gained 0.18%

month-over-month, a moderation from January’s 0.34% gain, and held steady

at 1.8% year-over-year. February’s slower month-over-month

pace of core inflation was in line with expectations following January’s

bump in hospital reimbursement rates and normalization in retail goods

prices following holiday discounting. Shelter prices also moderated in

February.

Apparel stays strong

Retail goods prices gained 0.34% month-over-month, led by a 1.5% increase

for apparel. The strength in apparel was expected and comes on the heels of

January’s 1.7% month-over-month rise. The normalization in apparel prices after heavy discounting in November

and December, along with the introduction of spring fashion lines, likely

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