Price Gauge Closely Tracked by the Federal Reserve Rises 2.5 Percent in February, Signaling Stubborn Inflation
inflation is running above the Fed’s 2 percent annual target, and opinion surveys show public discontent that high prices are squeezing America’s households despite a sharp pickup in average wages.
WASHINGTON — A measure of inflation that is closely tracked by the Federal Reserve rose 2.5 percent in February over the prior year, up slightly from a 2.4 percent year-over-year gain in January in the latest signal of stubborn price pressures.
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