U.S. core CPI rises more-than-expected in February
Investing.com
Published Mar 17, 2011 08:39AM ET
In a report, the Bureau of Labor Statistics said that consumer prices, less food and energy rose by 0.2% in February, after rising by 0.2% in January.
Analysts had expected core CPI to rise by 0.1% in February.
The report said that consumer prices including food and energy costs rose more-than-expected in February, increasing by a seasonally adjusted 0.4%, after rising by 0.4% in January.
Analysts had expected consumer price inflation to rise by 0.4% in February’.
According to the data, consumer prices rose at annualized rate of 2.1% in February, after rising by 1.6% in January and surpassing expectations for a rise of 2.0%.
Following the release of the data, the U.S. dollar was down against the euro, with EUR/USD gaining 0.75% to hit 1.4005.
Meanwhile, the outlook for U.S. equity markets was upbeat: Dow Jones Industrial Average futures pointed to a gain of 0.82%, S&P 500 futures indicated a rise of 1.15%, while the Nasdaq 100 futures added 0.96%.
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Written By: Investing.com
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