by Erik Sherman
Forbes
The new Consumer Price Index — CPI for short — data is out. It shows some slowing, but there is still enough to remain wary. You can bet the Federal Reserve will.
The month-over-month so-called all-items price growth between January and February was 0.2%. Comparing last month to February in 2024, the inflation rate was 2.8%.
The details of different inflation are important. If you didn’t know, the U.S. maintains lists of goods and services consumers typically purchase. Each takes up a percentage of the theoretical shopping basket. Government analysts check prices in many parts of the country monthly to discover the changes. That data becomes the basis for the CPI report.
This is the reason that you might find yourself experiencing price changes that differ from the CPI numbers. You might live in a particularly expensive or inexpensive part of the country. You might face expenditures that are higher or lower than average. Your consumption patterns could also vary from the predetermined mix. Medical bills might be higher or maybe — one can hope — you finally paid off student loans and don’t have any higher education expenses.