U.S. inflation up again in February in latest sign that price pressures remain elevated

Consumer prices in the United States picked up last month, a sign that inflation remains a persistent challenge for the Federal Reserve.

Consumer prices in the United States picked up last month, a sign that inflation remains a persistent challenge for the Federal Reserve and for President Biden’s reelection campaign, both of which are counting on a steady easing of price pressures this year. Prices rose 0.4% from January to February, higher than the previous month’s figure of 0.3%, the Labor Department said Tuesday. Compared with a year earlier, consumer prices rose 3.2% last month, faster than January’s 3.1% annual pace.

Despite a healthy job market and a record-high stock market, polls show that many Americans blame Biden for the surge in consumer prices that began in 2021. Though inflationary pressures have significantly eased, average prices remain above where they stood three years ago. In his State of the Union speech last week, Biden highlighted steps he has taken to reduce costs, such as capping the price of insulin for Medicare patients.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

latimes /  🏆 11. in US

United Kingdom Latest News, United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Inflation report February 2024: New consumer price data could set the stage for rate cutsRob Wile is a breaking business news reporter for NBC News Digital.
Read more »

Weekly Horoscope: February 18 - February 24See what this weekly horoscope has in store for you, including the start of Pisces season bringing big feelings.
Read more »

2024 United Rentals 300 - February 20, 2024View 2024 United Rentals 300 race, qualifier and practice leaderboards, live streams, bonus cameras, videos and odds information.
Read more »

Meet Dogs in a Pile, the Jam Scene's Newest Must-See BandDogs in a Pile plays the Bluebird Theater on Friday, February 16, and Saturday, February 17.
Read more »

An 1871 law did not make the United States government a corporationAn online conspiracy theory stemming from an old U.S. law has led some people to claim a legal right to drive without a
Read more »