Posted 3/12/2024, 11:20:38 AM
US Inflation Stays High; Prices Rise 0.4% in February, Adding Pressure on Biden and Fed
- Consumer prices in the US rose 0.4% from January to February, indicating inflation remains persistent
- Over 12 months, consumer prices rose 3.2% in February, faster than January's 3.1% pace
- Core inflation, excluding food and energy, also rose 0.4% showing price pressures continue
- Polls show many Americans blame Biden for inflation, a central issue for his re-election campaign
- The Fed is moving closer to cutting rates to ease inflation, with cuts possibly beginning in May or June
