U.S. consumer prices reported a strong rise in February, where the rise has driven the biggest annual jump in a year.
Despite this, inflation remained stable and some types of services including airline services increased gradually amid the recovering Covid-19 crisis.
The Labor Department said on Wednesday the consumer price index rose 0.4% last month after rising 0.3% in January. In the 12 months to February, the CPI rose 1.7%, the largest increase since February 2020, after rising 1.4% in January.
Based on a questionnaire by economists, this reading is in line with economists ’forecasts. The US dollar index, which measures the greenback against major currencies, declined 0.06% to the exchange rate of 91,915 following the announcement of the CPI report.
