Tuesday’s CPI saw inflation slightly top forecasts. Investors continue to expect the first interest rate cut to land in June.
US equities stocks rose Tuesday, bouncing back from the previous session’s slump as investors were unmoved by Tuesday’s consumer price index data.
February’s inflation came in slightly above forecasts, data from the Bureau of Labor Statistics showed. Inflation climbed 0.4% for the month, and 3.2% year-over-year, in line with expectations for the monthly figure, but slightly above the and 3.1% expected for the annual reading.
The month’s core inflation, which strips out more volatile food and energy prices, climbed 0.4%, against estimates of a 0.3% gain.
The report has done little to change expectations about when the central bank will lower interest rates, and markets are still indicating the see a June cut in the cards.
