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By Tyler Durden via ZeroHedge<\/a><\/p>\n

After January’s disappointing ‘stall’ in the linear demise of inflation, consensus expectations were for a re-acceleration of the YoY decline in headline CPI (from 6.4% to 6.0%), and the actual print came in right on expectations (+0.4% MoM, +6.0% YoY). That is the\u00a0lowest YoY CPI since Sept 2021<\/strong>…<\/p>\n

\"\"<\/picture><\/a>Source: Bloomberg<\/em><\/p>\n

Services dominated the headline CPI YoY shift with Shelter continuing to be a main driver…<\/p>\n

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On a MoM basis, Services and Shelter also dominated, with Used Car prices lower (which lags the real shift as Manheim prices have risen for two straight months)…<\/p>\n

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The index for shelter was the largest contributor to the monthly all items increase, accounting for over 70 percent of the increase,<\/strong>\u00a0with the\u00a0 indexes for food, recreation, and household furnishings and operations also contributing. The food index increased 0.4 percent over the month with the food at home index rising 0.3 percent. The energy index decreased 0.6 percent over the month as the natural gas and fuel oil indexes both declined.<\/p>\n

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Core CPI was expected to slow only marginally in February from 5.6% YoY to 5.5% YoY and it did – dropping to its lowest YoY print since Dec 2021…<\/p>\n

\"\"<\/picture><\/a>Source: Bloomberg<\/em><\/p>\n

The index for all items less food and energy rose 0.5 percent in February, after rising 0.4 percent in January.<\/p>\n