Thats slightly higher than expected and driven mainly by higher costs for gasoline and rents. In the 12 months up to february, the cpi rate increased by 3. 2 , compared to 3. 1 injanuary. The core rate, stripping out those volatile elements such as fuel and rents, fell to 3. 8 from 3. 9 injanuary, but that was still higher than the 3. 7 expected. This latest data suggests there is still some stickiness with inflation that will be scrutinised by the Federal Reserve as it weighs up a highly anticipated Interest Rate cut injune. Lets head over to new york and speak to our north America Business correspondent michelle fleury. As far as the fed is concerned, it is about how they respond to this number. It is not going in the direction they wanted it to. The tricky word direction they wanted it to. The tricky word that direction they wanted it to. Tue tricky word that you direction they wanted it to. Tte tricky word that you were stumbling over, sticky, and a lot of this is to do with housin
Neil carberry is the Chief Executive of the recruitment and employment confederation. We have definitely seen a cooling in Labour Market demand for newjobs over the last year, year and a half. And lots of change going on inside companies as they adapt to a slower economy. So, definitely signs of a cooling, that of course is what the bank is looking for to justify dropping Interest Rates in the next few months. But i think what is important to say is that there is nothing precipitous here, unemployment overall is still low, demand is still relatively high next to historic standards. So this is a gentle cooling, more of a soft landing rather than anything more challenging. And there is some hope in the business surveys for a turnaround later in the year. The rec speaks for 3,000 Recruitment Agencies all over the country and what we are getting is not employers shutting up shop and not hiring, but those Decision Making timescales take a bit longer, maybe we will recruit that rule next mon
The core rate, stripping out those volatile elements such as fuel and rents, fell to 3. 8 from 3. 9 injanuary, but that was still higher than the 3. 7 expected. This latest data suggests there is still some stickiness with inflation that will be scrutinised by the Federal Reserve as it weighs up a highly anticipated Interest Rate cut injune. Lets head over to new york and speak to our north America Business correspondent michelle fleury. Not michelle fleury. A huge rise but not heading in the not a huge rise but not heading in the right direction . The right direction . People were hoinu to the right direction . People were heping to see the right direction . People were hoping to see more the right direction . People were hoping to see more evidence hoping to see more evidence that prices were cooling and moving in the direction they wanted, this probably goes in the negative column, inflation is a bit hotter than people would like to see, and it does not necessarily mean a different