Inflation Remains Stubborn

The Consumer Price Index increased 0.4% in February, according to the U.S. Bureau of Labor Statistics. Over the last 12 months, the-all items index increased 3.2% before seasonal adjustment, up slightly from the 3.1% increase for the 12 months ending in January. Inflation continues to remain above the Federal Reserve’s 2% annual inflation target.  Current projections suggest inflation will remain around 3% into 2025.