US inflation data released: Rose above expectations

The US Consumer Price Index (CPI) rose by 0.4 percent on a monthly basis in February, in line with expectations, while it showed an increase of 3.2 percent on an annual basis, exceeding market expectations. Market expectations were for annual inflation to be 3.1 percent, in line with the data from January.

Accordingly, the cost of living for American consumers rose by 0.4 percent in February compared to the previous month. The CPI, which increased in line with market expectations in January, had shown a 0.3 percent increase.

In the markets, annual inflation was expected to be 3.1 percent again, just as it was in January.

During the period in question, the increase in shelter prices stood out as the most important factor in the monthly rise in inflation. The shelter index increased by 0.4 percent on a monthly basis and 5.7 percent on an annual basis in February.

In the same period, the rise in gasoline prices also exerted upward pressure on inflation. While gasoline prices increased by 3.8 percent monthly in February, they fell by 3.9 percent on an annual basis. 60 percent of the increase in the CPI was driven by the rise in shelter and gasoline prices.

News Source: AA