Markets breathed a sigh of relief on Wednesday as the latest inflation data showed a notable cooldown in February. But the softer print is unlikely to sway Federal Reserve officials to lower interest rates at their policy meeting next week.
The consumer price index rose just 2.8% year over year in February and the so-called core measure, which excludes food and energy costs, was up 3.1% last month. The readings were softer than consensus forecasts and marked the first deceleration in the inflation data since September.
