February’s Consumer Price Index (CPI) showed inflation easing, with prices rising 2.8% annually, down from January’s 3% increase and below forecasts.

Monthly inflation slowed to 0.2%, signaling a cooling trend. Core inflation, excluding food and gas, rose 3.1% year-over-year, the lowest since April 2021.

Shelter costs, a key driver, continued to decline, while gas prices dropped 1%.

Food price growth slowed, but egg prices surged 10.4% due to bird flu, Yahoo Finance has reported.

The report eased market concerns, increasing the likelihood of future Fed rate cuts if economic conditions weaken.

Written by B.C. Begley