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Instant View: U.S. February CPI increase leaves market guessing on Fed

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U.S. consumer prices increased in February amid sticky rental housing costs, but economists are divided on whether rising inflation will be enough to push the Federal Reserve to hike interest rates again next week after the failure of two regional banks.

The Consumer Price Index rose 0.4% after accelerating 0.5% in January, the Labor Department said on Tuesday. That lowered the year-on-year increase in the CPI to 6.0% in February, the smallest annual gain since September 2021. The CPI rose 6.4% in the 12 months through January.

Core CPI without food and energy prices increased 0.5% after rising 0.4% in January. Year over year core CPI gained 5.5% vs 5.6% in January. Economists polled by Reuters had forecast monthly CPI and core CPI up 0.4%.STOCKS: U.S. stock index futures extended gains and were last up 1.2%, pointing to a solid open on Wall Street BONDS: U.S. Treasury yields seesawed lightly, with the 2-year note last off at 4.234%, and the 10-year note a bit lower at 3.5676% FOREX: The euro ticked 0.

 

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U.S. stocks open higher after headline CPI data show February inflation was in line with expectationsU.S. stocks opened higher Tuesday after headline data on inflation came in line with expectations. The Dow Jones Industrial Average was up 1% soon after the opening bell:
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