The inflation rate last month was slightly lower than forecast by economists, although price increases are still higher than the Fed would like.

Monthly growth and core inflation data also came in lower than expected, but this will not affect the Federal Reserve’s March decision US consumer price inflation data for February came in slightly below expectations across the board.

U.S. consumer prices increased less than expected in February, but the improvement is likely temporary against the backdrop of aggressive tariffs on imports that are expected to raise the costs of most goods in the months ahead.

Price growth was set to have cooled slightly in February, forecasters said in advance of the latest Consumer Price Index report, but President Donald Trump’s tariff policies are already threatening to derail things.

The consumer price index for the 25-county region that includes Long Island increased 4.2% last month compared with February 2024, according to the federal Bureau of Labor Statistics.

Caroline Woods brings you the biggest news of the day, including the latest CPI report.

Economists expect the latest inflation data to deliver some much-needed good news that price growth cooled a bit in February–though with higher tariffs on the horizon, the relief may be short-lived. T

Consumer prices increased less than expected in February, but the improvement is likely temporary against the backdrop of aggressive tariffs on imports that are expected to raise the costs of most goods in the months ahead.