Consumer prices rose slightly during President Trump’s first full month in office, according to data released Wednesday by the Labor Department.
The CPI rose 0.2 percent in February from January and is up 2.8 percent on the year.
Economists expected the CPI to rise by 0.3 percent on the month and hit an annual inflation rate of 2.9 percent, according to consensus estimates.
But the numbers broke following four consecutive months of rising annual inflation in the CPI, which increased steadily from 2.4 percent in September to 3 percent in January.
The new CPI report also comes amid weeks of rising economic pressure on President Trump, who is facing economic disapproval ratings unprecedented across his two terms.
Trump imposed a 25 percent tariff on Canadian and Mexican goods earlier this month before exempting carmakers and then pausing it for goods covered under a North American trade agreement.
The president threatened tariffs on Canadian metal imports up to 50 percent after Canada imposed an electricity surcharge on its U.S. exports to New York, Minnesota and Michigan on Monday.
The White House declined to rule out a recession this week, fueling even greater anxiety in markets.
“We are in a period of economic transition,” White House press secretary Karoline Leavitt said Tuesday.
Read the full report at TheHill.com.
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