Inflation Slows as Consumer Prices Ease for Gasoline, Groceries, and Housing

Benzinga

Inflation eased in February as price pressures on consumer staples like gasoline, groceries, and housing subsided, according to CNBC. The consumer price index rose 2.8% year-over-year, down from 3% in January the Bureau of Labor Statistics reported Wednesday.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02In February, as price pressures on consumer stables like gasoline, groceries, and housing

00:06subsided. And according to CNBC, consumer price index rose 2.8% year over year, down from 3% in

00:13January, the Bureau of Labor Statistics reported on Wednesday. Economists view the decline as

00:17encouraging, but caution that inflation remains above the Federal Reserve's 2% target. Housing

00:23inflation reached its lowest level in over two years, while gasoline prices declined both monthly

00:28and annually. Tariffs imposed by President Donald Trump on steel and aluminum imports

00:33raise concerns about potential cost increases for businesses and consumers.

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