Inflation Rises Faster than Expected in February, Stocks Hit Record High Despite Hot Inflation Data
- CPI report shows hotter-than-expected inflation in February
- Inflation rose 0.6% in February, more than the 0.4% estimate
- S&P 500 ended at a record high, shrugging off the inflation data
- Data puts pressure on calls for 3 Fed rate cuts this year
- Report released on March 12, 2024 at 418pm ET
