As measured by CPI, inflation in the US is set to rise at an annual pace of 2.9% in February, down slightly from 3.0% reported in January. Core CPI inflation, which excludes the volatile food and energy categories, is expected to ease to 3.2% in the same period from a year earlier, compared to a 3.3% growth in January.

Inflation slowed more than expected in February, bringing some relief to consumers and Federal Reserve officials alike even as the effects from higher tariffs threaten to push it up again.. The consumer price index climbed 2.

February inflation measured by the Consumer Price Index Wednesday was 2.8% annually and was up a lower than expected 0.2% for the month, seasonally adjusted.

The inflation rate last month was slightly lower than forecast by economists, although price increases are still higher than the Fed would like.