Inflation in February rose 2.8% on an annual basis, slightly lower than economists had forecast but continuing to signal that price hikes remain elevated despite the Federal Reserve's efforts to tame inflation to a 2% annual rate.

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.

Consumer prices rose 2.8% in the 12 months through February, a slowdown from January's faster-than-expected 3% rate. This chart shows how prices and wages—a key driver of inflation—have moved since 20