Inflation eased more than expected in February0066bet, a welcome sign for the Federal Reserve as it grapples with the prospect of higher prices and slower growth as a result of President Trump’s trade war.

The Consumer Price Index was up 2.8 percent from a year earlier, after rising another 0.2 percent on a monthly basis. That was a step down from January’s surprisingly large 0.5 percent increase and came in below economists’ expectations.

The “core” measure of inflation, which strips out volatile food and fuel prices to give a better sense of the underlying trend, also ticked lower. The index rose 0.2 percent from the previous month, or 3.1 percent from a year earlier. Both percentages were below January’s increases.

The data from the Bureau of Labor Statistics underscored the bumpy nature of the Fed’s progress toward its 2 percent goal. Prices for consumer staples, such as eggs and other grocery items, are rising steeply again, but costs for other categories like gasoline fell. A 4 percent drop in airfares in February was a primary driver of the better-than-expected data.

Egg prices rose another 10.4 percent in February, as an outbreak of avian influenza continued to exacerbate a nationwide egg shortage. Prices for eggs are up nearly 60 percent since last year. Food prices more broadly rose 0.2 percent, or 2.8 percent from a year earlier.

The cost of used cars also rose 0.9 percent in February, although new vehicle prices declined slightly. Car insurance, which was a huge driver of the index’s unexpectedly large increase in January, rose again, but at a much slower pace of 0.3 percent. It is up just over 11 percent over the past year.

A bar chart showing the January-to-February changes in a selection of categories of the Consumer Price Index, adjusted for seasonality. Piped utility gas service rose the most and airline fares fell the most.

Monthly changes in Febraury

Piped utility gas service

+2.5%

f5555

Meats, poultry, fish, and eggs

+1.6

Electricity

+1

Used cars and trucks

+0.9

Fuel oil

+0.8

Apparel

+0.6

Tobacco and smoking products

+0.6

Alcoholic beverages

+0.5

Cereals and bakery products

+0.4

Food away from home

+0.4

Physicians’ services

+0.4

Rent of primary residence

+0.3

Motor vehicle insurance

+0.3

All items

+0.2

All items excluding food and energy

+0.2

Medical care commodities

+0.1

Fruits and vegetables

−0.5%

Nonalcoholic beverages

−0.5

Dairy products

−1

Gasoline (all types)

−1

−4

Airline fares

9x999 slots

Monthly changes in February

Piped utility gas service

+2.5%

Meats, poultry, fish, and eggs

+1.6

Electricity

+1

Used cars and trucks

+0.9

Fuel oil

+0.8

Apparel

+0.6

Tobacco and smoking products

+0.6

Alcoholic beverages

+0.5

Cereals and bakery products

+0.4

Food away from home

+0.4

Physicians’ services

+0.4

Rent of primary residence

+0.3

Motor vehicle insurance

+0.3

All items

+0.2

All items excluding food and energy

+0.2

Medical care commodities

+0.1

Fruits and vegetables

−0.5%

Nonalcoholic beverages

−0.5

Dairy products

−1

Speaking in the battleground state of Pennsylvania, where Vice President Kamala Harris has a slight edge in recent polls, Mr. Trump bristled at the notion that his struggles with women voters could cost him the election and suggested that his tough talk about immigration and economic proposals would resonate with them.

Such a scenario would represent a notable degree of ticket-splitting, perpetuating a trend captured by surveys throughout this election cycle. Democratic Senate candidates in a number of swing states, including Arizona and Nevada, have consistently polled ahead of the top of the ticket, especially when President Biden was the party’s standard-bearer. As Ms. Harris’s nomination has made the election more competitive, the gap between her and those down-ballot Democrats has narrowed — but the trend persists in most races in swing states.

Gasoline (all types)

−1

Airline fares

−4

January-to-February changes in a selection of categories of the Consumer Price Index, adjusted for seasonality.

Source: Bureau of Labor Statistics

By The New York Times

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