February CPI reveals cooler-than-expected inflation

Caroline Woods brings you the biggest news of the day, including the latest CPI report.

Transcript

00:00While the prices for goods and services still got more expensive in February,

00:04they got a little bit less expensive than predicted. The latest consumer price index rose

00:090.2 percent last month. That puts the annual inflation rate at 2.8 percent. Core inflation,

00:16which excludes food and energy prices, also increased by the same amount, leaving it with

00:21a year-over-year rate of 3.1 percent. Both readings were cooler than Wall Street estimates

00:26by 0.1 percent. The new report released by the Bureau of Labor Statistics revealed food prices

00:32ticked up 0.2 percent in February. However, the cost of going out to eat increased twice as much

00:38at 0.4 percent. The energy sector also rose 0.2 percent, but the cost of electricity rose

00:44significantly higher at 2.5 percent. And while the cost of a new vehicle dropped a tick, used

00:50car and truck prices rose almost a full percent. The report is welcome news to both consumers and

00:56businesses as it at least tampered the fears of how impending tariffs may affect the broader

01:01economy. That'll do it for your daily briefing from the New York Stock Exchange. I'm Caroline

01:06Woods with The Street.