Prices for goods and services moved up less than expected in February as consumers and businesses worry about the impact tariffs might have on inflation, the Bureau of Labor Statistics reported Wednesday.
The consumer price index, a wide-ranging measure of costs across the U.S. economy, ticked up a seasonally adjusted 0.2% for the month, putting the annual inflation rate at 2.8%, according to the Labor Department agency.
Excluding food and energy prices, core CPI also rose 0.2% on the month and was at 3.1% on a 12-month basis.
Economists surveyed by Dow Jones had been looking for 0.3% increases on both headline and core, with respective annual rates of 2.9% and 3.2%, meaning that all of the rates were 0.1 percentage point less than expected.
Stock market futures held positive after the release while Treasury yields were mixed, nudging lower at the longer-duration end of the curve.
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