U.S. CPI Unexpectedly Rises to 3.2% in February; Core Rate Rises to 3.8%

The U.S. Consumer Price Index rose faster than expected last month, with the year-over-year pace up to 3.2% versus estimates for 3.1% and January’s 3.1%, the government reported Tuesday morning. The core rate – which strips out food and energy costs – also disappointed to the upside, coming in at 3.8% against expectations of 3.7%.