Published: 2024-03-12T16:48:34.000Z
U.S. February Median CPI +4.6% annualized and yr/yr
Senior Economist , North America
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The Cleveland Fed’s Median CPI for February with a 0.372% monthly increase (4.6% annualized) is in line with the 0.358% gain seen in core CPI and the recent Median CPI trend, suggesting volatile components did not play a major part in the February CPI outcome.
Most recent months have been reasonably close to February’s 4.6% annualized pace though January was significantly stronger at 6.5%. The annualized pace is consistent with the 4.6% yr/yr pace which continues to trend lower though downside momentum may be fading. If so, a fading in the slowing trend is a cause for concern with the pace still being well above consistency with the Fed’s 2.0% target for core PCE prices.
