Here's what to expect in the CPI report on Wednesday
CBSN
Americans hoping for good news on inflation with Wednesday's release of Consumer Price Index data for February may have to wait a little longer for relief.
Prices across the U.S. likely rose 2.9% last month from a year ago, which would remain well above the Federal Reserve's target of a 2% annual rate, according to the average estimate from economists polled by FactSet. The CPI, a basket of goods and services typically bought by consumers that tracks the change in those prices over time, has cooled considerably from its peak of 9.1% in June 2022, but continues to eclipse the index's pre-pandemic levels.
February's data reflects the first full month of the Trump administration, although some of Mr. Trump's economic policies have yet to take effect, such as his 25% tariffs on Canadian and Mexican imports, now set to kick in on April 2 after a one-month reprieve. Economists now predict that inflation could tick upwards in 2025 due to Mr. Trump's tariff regime, which means the latest inflation data could prove to be the calm before the storm.
