CPI report shows inflation steady at 2.4% annual rate in February

The Consumer Price Index (CPI) increased by 2.4% annually in February, remaining steady from the previous month and below economists’ expectations of 2.5%. The data reflects the period before the outbreak of the Iran war, which has since caused a surge in oil prices and raised inflation concerns. Analysts warn that higher energy costs may hinder progress in controlling inflation, raising the prospect of increased overall inflation in the coming months.

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