US February CPI falls short of economists' forecasts
By Alexander Bueso
Date: Tuesday 12 Mar 2019
(Sharecast News) - The cost of living in the States surprised to the downside last month, as prices for used cars and trucks fell back.
According to the Bureau of Labor Statistics, the rate of increase in headline consumer prices slipped from a year-on-year pace of 1.6% for January to 1.5% in February (consensus: 1.6%).
Prices also fell short of forecasts at the 'core' level, with a dip in the year-on-year rate of gains from 1.6% to 1.5% (consensus: 1.6%).
Food and energy prices both rose by 0.4% when compared to the month before, but those for used cars and trucks declined by 0.7% while the cost of medical care commodities fell by 1.0%.
Medical care services prices meanwhile were flat versus January, although prices for apparel and shelter both increased by 0.3%.
As of 1241 GMT, the yield on the benchmark 10-year US Treasury note was flat at 2.64% after having hit 2.67% earlier during the session.
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