CPI Rises A Hot 0.7%, But Core Inflation Is Right In Line

CPI rose 0.7 percent in February, which was a tad ahead of expectations.

But core CPI — which excludes food and energy — merely rose by 0.2 percent, which is right in line with expectations.

It's not a huge deal that the headline was a bit hot.

This is a benign report that won't push the Fed towards easing.