Washington: US consumer inflation inched lower in February according to government data yesterday, in the first full month of Donald Trump's White House return -- but concerns remain over stubborn price growth as jitters flare over the president's trade policies.
The consumer price index (CPI) came in at 2.8 percent last month from a year ago, down from 3.0 percent in January, said the Department of Labor.
This was slightly better than a consensus forecast of analysts predicted.
White House Press Secretary Karoline Leavitt said the report showed "the economy is moving in the right direction under President Trump," pointing to his plans for "massive deregulation and energy dominance" to push down costs.
While easing inflation is a relief for policymakers, the latest reading is just the lowest since late-2024, signaling a longer road ahead to bringing price increases back to officials' two percent target.
The world's biggest economy is also grappling with fears of a downturn -- and near-term inflation -- sparked by Trump's expanding slate of tariffs.
Yesterday, Trump's latest salvo of 25 percent levies on steel and aluminum imports kicked in, sparking vows of firm responses from the European Union and China.
The European Commission said it would impose countermeasures from April 1 to counter Washington's "unjUStified trade restrictions."
Between January and February, the CPI picked up 0.2 percent, Labor Department data showed, also a cooldown from January's 0.5 percent figure.
Excluding the volatile food and energy categories, the index was up 3.1 percent from a year prior, an improvement from before as well.
