Inflation Unexpectedly Climbs Even Higher, Throwing Federal Reserve’s Interest Rate Decision Into Question

February’s 📈Inflation rate topped expectations and has put into question the Federal Reserve’s willingness to cut interest rates.

The Consumer Price Index rose 3.2 percent in February, according to The Wall Street Journal, topping the 3.1 percent that economists had forecast.

Prices rose 0.4 percent from January.

Core prices, which exclude food and energy because those are more volatile month-to-month, rose 0.4 percent from January, topping the 0.3 percent economists predicted. Core prices are now up 3.8 percent from 2023.

The Journal wrote that an interest rate cut  “still looks to be off the table, with interest-rate futures implying that investors see next to no chance of one.”

The next meeting of the Federal Reserve is set for March 19-20, according to CBS News. While most analysts did not expect an interest rate cut this month, according to CBS, most analyst were expecting three rate cuts this year, according to the Journal.

That might be in question not, the Journal reported.

Some commentators said the report endorses concerns that January figures showing higher-than-expected Inflation