Stale data shows US inflation pressures easing to a five-year low
Inflation slowed in the United States last month—before the war in Iran sent oil prices spiralling higher and triggered a sharp reappraisal of the Federal Reserve’s expected policy path. According to data published by the Bureau of Labor Statistics this morning, the core consumer price index—with highly-volatile food and energy prices excluded—rose 0.2 percent in February from the prior month, decelerating slightly from January’s 0.2-percent increase, and rising 2.46 percent over the same period last year—marking a five-year low. This was in line with consensus estimates among economists polled by the major data providers ahead of the release. On a...