US inflation is still high, but it's falling. Last month's Consumer Price Index measured 6%, down from January's 6.4%.
The closely watched gauge of inflation, released Tuesday morning, showed that annual price increases continued to slow in February. CPI measured 6% for the year ended in February, down from January’s 6.4% and in line with economists’ expectations.
On a monthly basis, prices were up 0.4%, representing a cooldown from the January monthly growth rate of 0.5%. Economists were expecting a gain of 0.4%. When stripping out volatile energy and food prices, core CPI grew 0.5% on a monthly basis and 5.5% year over year. This story is developing and will be updated.
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