US February core CPI 3.1% vs 3.2% expected

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.