Inflation rose at annual rate of 6% in February
CBSN
Inflation around the U.S. rose at an annual rate of 6% rate in February, cooling from the prior month, the Labor Department reported Tuesday.
The report matched economists' forecasts that the Consumer Price Index, a broad basket of good and services, increased 6% last month, according to financial data company FactSet.
In January, inflation rose at a 6.4% annual rate, hotter than expected, and raising investor concerns that the Federal Reserve may need to continue hiking interest rates for longer — and higher — than previously expected in order to tame rising prices. T
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