consumer prices in February up (only) by 6% from 2022- Corriere.it
Inflation slows down in the US. Consumer prices rose 6% year-on-year in February, in line with analysts' expectations. On a monthly basis, the increase was only 0.4%, in line with forecasts. Consumer prices had instead risen by 6.4% in January. Inflation data at its lowest since September 2021. Despite the slowdown, it remains well above the Fed's 2% target, on which pressure remains high.
The words of Joe Biden
US President Joe Biden said annual inflation fell by a third compared to this summer, the slowest annual increase since September 2021. In the note published by the White House, Biden then mentions the issue of banks: How I've said at length, and as the challenges in banking remind us, there will be setbacks along the way in our transition to steady and stable growth. But we face these challenges from a position of strength. The president then recalled the more than 12 million jobs created under his presidency and the highest percentage of adults of working age employed or looking for work in the last 15 years.
What does it mean for Italy? According to Istat, the international scenario remains characterized by a high degree of uncertainty but by downside risks. In the February note on the performance of the Italian economy, the Institute underlines that a longer path of inflation recovery than initially forecast is starting to emerge.