The New York Times

CPI Inflation Rises to 1.0%, Easing Pace Slows

Inflation moderates, but remains elevated

The consumer price index (CPI) in February 2024 increased by 1.0% compared to the previous month, according to the latest report from the Bureau of Labor Statistics. This marks a slight increase from the 0.8% increase in January, indicating that the pace of easing inflation is slowing.

Price pressures remain stubbornly high

Despite the moderation in the overall CPI, price pressures remain stubbornly high in certain sectors. Shelter and gasoline prices rose by 0.4% and 10.2%, respectively, in March. These increases continue to put a strain on household budgets.

The CPI for all items rose by 0.4% in March, bringing the year-over-year increase to 8.3%. This remains well above the pre-pandemic inflation rate and is putting pressure on the Federal Reserve to continue raising interest rates.

The White House