Cooling inflation in February brings hope that Fed rate hikes are over

Consumer prices climbed at a slower pace in February, keeping alive the hope that the Federal Reserve may pause the federal funds rate hikes in its meeting next week following the Silicon Valley Bank and Signature Bank failures.The Consumer Price Index (CPI) rose by 6% in February before seasonal adjustment compared to one year ago, lower than the 6.4% increase recorded in the 12 months ending in January, according to data released Tuesday by the Bureau of Labor Statistics (BLS).

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