Data released just moments ago by the US Bureau of Labor Statistics showed that the Consumer Price Index (CPI), a measure of inflation, rose 0.2% in February after rising by approximately 0.5% in January, missing expectations of a 0.3% decline.

The core CPI, which excludes food and energy prices, fell to 0.2% from 0.4% in January (expected 0.3%). Conversely, the annual CPI rose to 2.8% over the past 12 months from 3.0% in January, missing expectations of a 2.9% increase. The core CPI rose to 3.1% from 3.3%.

In detail, the food index grew by 2.6% year-on-year and increased by approximately 0.2% in February. The energy index rose by 0.2% in February from 3.7% and decreased by approximately 0.2% year-on-year.