US CPI jumped 0.5% in February after posting 0.4% advances in the previous 2 months. The YoY inflation rate rose from 1.6% in January to 2.1% in February. Core CPI rose another 0.2% to a 1.1% YoY increase.
The Cleveland Fed’s median CPI rose 0.2% for the second consecutive month, following 4 months of 0.1% gains. Over the last 3 months, it has increased at a 2.1% annualized rate. The 16% trimmed-mean CPI accelerated to a 0.3% monthly increase in February. Over the last 3 months, it has increased at a 2.7% annualized rate.