The Labor Department on Tuesday will release the February consumer price index data, which is expected to show that inflation remained uncomfortably high.
A closely watched inflation report due Tuesday is expected to show that progress in fighting price pressures within the economy slowed again in February. Economists expect the consumer price index, which measures a range of goods that includes gasoline, health care, groceries and rent, to show that prices rose 3.1% in February – unchanged from the previous month. On a monthly basis, inflation is seen rising 0.4%, which is higher than the 0.
401 HARDSHIP WITHDRAWALS ARE SURGING AS HIGH INFLATION SQUEEZES AMERICANS The central bank is closely watching the report for evidence that inflation is finally subsiding as policymakers try to gauge what comes next for interest rates in 2024. Central bank officials have opened the door to cutting interest rates this year, but have pushed back against the market's aggressive expectations.
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