Global Economy
US Inflation Holds Steady at 2.4% in February Amid Global Oil Price Fluctuations
The U.S. Consumer Price Index (CPI) for February 2026 showed a flat year‑over‑year inflation rate of 2.4%, the lowest level since May 2025 and exactly in line with market forecasts. While energy costs nudged higher after a brief dip, overall price growth slowed, keeping core inflation unchanged at 2.5% and suggesting limited pressure on Federal Reserve policy. Key drivers included a modest rise in housing costs, a slight rebound in gasoline prices and a continued decline in used‑vehicle values. All data points were consistent with analysts’ expectations, pointing to a stable inflation environment for the near term.
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The U.S. Consumer Price Index (CPI) for February 2026 held steady at a 2.4% year‑over‑year rise, matching analysts’ forecasts and marking the lowest inflation rate since May 2025.
Even though global tensions in the Middle East pushed oil prices higher, the CPI reflected a modest rebound in energy costs. Gasoline prices fell less sharply (-5.6% vs -7.5% in January), while fuel oil rose 6.2% and natural gas up 10.9%.
Key monthly movements
- Overall CPI: +0.3% month‑over‑month, up from +0.2% in January.
- Housing component: +0.2%, the largest contributor to the monthly gain.
- Gasoline: +0.8%.
- Food: +0.4%.
- Used cars and trucks: -3.2%, a deeper decline than the previous month.
Core CPI, which excludes food and energy, remained unchanged at an annual 2.5%, the lowest level since 2021. On a month‑to‑month basis, core inflation rose 0.2%, down from 0.3% in December.
All figures were in line with market expectations, suggesting that inflation pressures are easing without triggering a sharp shift in monetary policy.