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Inflation rose at an annual rate of 6% in February

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Inflation across the US rose at an annualized rate of 6% in February, slowing from the previous month, Labor Department mentioned Tuesday.

The report matched economists’ expectations that the consumer price index, a broad basket of goods and services, rose 6% last month, according to financial data firm FactSet.

In January, inflation It increased at a rate of 6.4% annually, higher than expected, and adding to investor concerns that the Federal Reserve may need to continue raising interest rates for longer – and higher – than previously expected in order to tame higher prices. t

before the surprise Silicon Valley bank collapse On Friday, Fed officials were widely expected to raise interest rates when they meet next week. But banking industry turmoil after government regulators seized control of SVB, and Signature Bank of New York has since cast doubt on central bank accounts.

This is a developing story.

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