Business Inflation Expectations Flat

Soft inflation data are the day's theme, led by no change for the consumer price index earlier this morning and now followed by a 1 tenth decline to 1.9 percent in year-ahead inflation expectations at the business level. February's result is the lowest in more than a year, since October 2018 and marks a 4 tenth decline from December. Whether at the business or the consumer level, inflation pressures are incremental at most having been pulled down by weakness in energy prices.