US inflation stayed flat at 2.4% in February before effects of war on Iran kicked in

Inflation Overview - US inflation remained flat at 2.4% in February, following fluctuations in the previous year, with a four-year low of 2.4% in January [1][2] - Core inflation, excluding food and energy, was reported at 2.5%, with significant price increases in shelter, medical care services, and utilities [2] Impact of Tariffs - Certain sectors heavily reliant on imports showed notable price increases due to tariffs, with coffee prices rising by 18.4% year-over-year and canned fruit and vegetable prices increasing by 6.2% [2] - The US Supreme Court recently struck down much of Trump's tariff regime, leading to the introduction of a new 15% tariff on all imports [4] Oil Prices and Economic Uncertainty - The US conflict in Iran has led to global oil price shocks, with gas prices rising from just below $3 to $3.50 within a short period [5] - Economists estimate that a $10 increase in oil prices could result in a 0.2% increase in overall price levels [5] Federal Reserve's Response - The new inflation data is expected to influence the upcoming US Federal Reserve board meeting, where interest rates are likely to remain unchanged despite ongoing conflicts [6] - The Federal Reserve has resisted lowering interest rates due to persistent inflation above the target rate of 2%, despite pressure from President Trump [7] Labor Market Conditions - The US economy experienced a loss of 92,000 jobs in February, resulting in an increase in the unemployment rate to 4.4% [8]