Tag Archives: FederalReserve

Inflation cools in first full month of Trump term but egg prices soar

Inflation cools in first full month of Trump termThe inflation report arrived as markets slide and recession fears grow. ABC News’ Alexis Christoforous reports.

Consumer prices rose 2.8% in February compared to a year ago, easing slightly over the first full month under President Donald Trump and offering welcome news for markets roiled by a global trade war. Inflation cooled more than economists expected. The major stock indexes climbed in early trading on Wednesday minutes after the release of the inflation report. Price increases slowed from a 3% inflation rate recorded in January, though inflation remain nearly a percentage point higher than the Federal Reserve’s target of 2%. Egg prices, however, a closely watched symbol of price increases, soared 58.8% in February compared to a year ago, accelerating from the previous month. Bird flu has decimated the egg supply, lifting prices higher. The Justice Department opened an investigation into egg producers to learn if