On Tuesday morning, the latest Consumer Price Index (CPI) was released, providing evidence that prices are continuing to slow even though inflation remains at a high level. According to the newest data, the annual inflation rate of 6% in February was down from January’s 6.4%, and in line with economists’ expectations. On a monthly basis, prices increased 0.4%, representing a marked decrease from the 0.5% seen in January.

Excluding volatile energy and food prices, the core Consumer Price Index (CPI) gained 0.5% in February, with annual prices up 5.5%. Inflation rate has been declining since May of last year, with a decrease in energy prices helping to keep it in check. Despite this, shelter costs still spiked, resulting in an 8.1% annual gain, as estimated by economists.

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