In February, the consumer price index (CPI) experienced a 3.2% annual increase, a slight uptick from the previous month’s 3.1%. Despite economists anticipating a 3.1% reading, the actual figure surpassed expectations. Concurrently, the labor market in the United States exhibited growth, with 275,000 jobs added in February. Policymakers at the Federal Reserve are actively working to reduce inflation and bring it down to the target rate of 2%.

Source: https://www.theguardian.com/business/2024/mar/12/us-inflation-rate-february

Photograph: Jonathan Ernst/Reuters

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