NY Fed Inflation Gauge Shows Cooling Prices in February

• NY Fed inflation gauge shows cooling price pressures in February • Multivariate Core Trend Inflation gauge fell to 2.9% in February from 3% in January • Index has been cooling since peaking at 5.43% in June 2022 • Fed's preferred PCE price index rose 2.5% year-over-year in February • Core PCE price index rose 2.8% year-over-year in February