A shopper inside an Aritzia store in the Soho neighborhood of New York City on January 22, 2024. Photographer: Shelby Knowles/Bloomberg
Underlying U.S. inflation topped forecasts for a second month in February, as prices jumped for used cars, air travel, and clothes, reinforcing the Federal Reserve's cautious approach to cutting interest rates.
The so-called core consumer price index (core CPI), which excludes food and energy costs, increased 0.4 percent from January, according to government data out Tuesday. From a year ago, it advanced 3.8 percent.
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