US February core CPI +3.1% vs +3.2% expected

Headline CPI:

• CPI +% vs +3.2% expected
• Prior was +3.3
• m/m reading at +% vs +0.3% expected
• Month-over-month unrounded vs 0.467% prior

Core measures:

• Core CPI 3.1% vs +3.2% expected
• Core CPI m/m +0.2% vs +0.3% expected
• Core unrounded +% vs +0.446% m/m prior
• Real weekly earnings +0.1% vs -0.3% prior
• Core services ex shelter vs +0.757% prior
• Core-CPI services ex-rent/OER vs +0.5% prior
• Services ex energy vs +0.5% prior

The index for shelter rose 0.3 percent in February, accounting for nearly half of the monthly all items increase. The shelter increase was partially offset by a 4.0-percent decrease in the index for airline fares and a 1.0-percent decline in the index for gasolin