On Tuesday morning ET, the US Bureau of Labor Statistics released its latest reading on the Consumer Price Index (CPI).
As per the report the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4% in February following a 0.3% rise in January, on a seasonally adjusted basis.
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According to CNBC this means that the CPI has increased 3.2% from a year ago, a little above the 3.1% forecast from the Dow Jones consensus.
The index for all items less food and energy rose 3.8% over the last year.
"June cuts aren't off the table from today's report," says financial analyst Elias Lisberg. "But more (rhetoric) timidness given strong economic data seem probable."