The US Bureau of Labor Statistics released February ‘08 Consumer Price Index (CPI) numbers this morning, showing that price levels remained relatively flat vs. January. Both the overall CPI and the CPI less food and energy showed a 0% increase vs. the prior month (in January, the CPI increased 0.4% and 0.3% respectively vs. December ‘07).
The Stock Market Reaction
The stock market is looking for a positive open on the heels of the announcement, as futures are up ahead of the bell. However, many question the decrease in energy prices that the report factors in (i.e., a 2% decrease in gasoline prices), so we may see stocks move lower by market close.
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