March 12, 2025 at 12:30PM
Headline CPI:
CPI +% vs +3.2% expected
Prior was +3.3
m/m reading at +0.2% vs +0.3% expected (matches lowest since October)
Month-over-month unrounded +0.216% vs 0.467% prior
Core measures:
Core CPI 3.1% vs +3.2% expected (lowest since 2021)
Core CPI m/m +0.2% vs +0.3% expected
Core unrounded +0.227% vs +0.446% m/m prior
Real weekly earnings +0.1% vs -0.3% prior
Core services ex shelter +0.3% vs +0.757% prior
Core-CPI services ex-rent/OER +0.3% vs +0.5% prior
Services ex energy +0.24% vs +0.5% prior
The index for shelter rose 0.3 percent in February, accounting for nearly half of the monthly all items increase. The shelter increase was partially offset by a 4.0-percent decrease in the index for airline fares and a 1.0-percent decline in the index for gasoline.
The US dollar dipped briefly on this report but bounced back. S&P 500 futures surged and are up 90 points, or 1.7%.
Treasury yields initially fell but have turned around and are higher again. You can see that price action come through in the dollar, which fell initially but bounced all the way back.
This article was written by Adam Button at www.forexlive.com.