CNBC: Consumer Prices Rose 0.4% in February, with Year-Over-Year Inflation Coming in at 3.2%

TRANSCRIPT:

SANTELLI: "Our February read on the consumer price index, headline number expected to be up 4/10 of a percent, is up 4/10 of a percent. Now, if we look at the most recent lower number in this series, we had .3 in January and we had 2.2s in November December. So this is now a firming issue as we have had back-to-back reads — excuse me, we had up 4/10, now ex food and energy also up 4/10, 1/10 hotter. So we have had back-to-back on headline and core up 4/10 of a percent. Now, 4/10 equals the look we had last month on core, and the most recent lower number was October, that was up 2/10, that happened to be the lowest since Feb of ‘21. So we’re firming here. Now, the year-over-year numbers, also hotter than expected, 3.2 on headline year-over-year. That’s 3.2. That will be the highest since Dec when it was 3.4. January remains at 3.1. If we look at year-over-year core, 3.8. Now this is interesting. This is 1/10 hotter  than we were expecting."