The 3% month-over-month gain suggested that strong consumer spending will keep prices elevated, which could increase pressure on the Federal Reserve to step up its efforts to tamp down inflation. And US homebuilder sentimentin February by the most since mid-2020, as easing mortgage rates over the past several months have boosted the housing market.
Investors were still mulling Tuesday’s US consumer price index data and what it means for the US economy.
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