The consumer price index in the United States of America increased at a slower rate to 6.0% YoY in February, according to the report by the Labor Department on Tuesday.
A 6% growth last month was the eighth consecutive decline on an annualized basis and the lowest level since September 2021.
Excluding the volatile food and energy prices, core inflation for February moved down to 5.5%, its fifth consecutive decline in the YoY rate and the lowest level since November 2021.
Both indicators were in line with the market expectations.
Meanwhile, the consumer price index rose 0.4% for the month as expected, but core CPI on a monthly basis rose 0.5%, which was slightly higher than a 0.4% rise expected by economists.
Heading into Tuesday, the market was widely expecting the Federal Reserve to deliver a 25 basis point rate hike in the meeting later this month.
