As banking worries persist, new data shows U.S. inflation eased to 6% last month

On the heels of the second and third largest bank failures in U.S. history, new federal data showing an ongoing easing of price pressures could help dampen concerns over a potential economic fissure. On Tuesday, the Department of Labor reports year-over-year inflation dropped to 6% in February, down from January’s 6.4% rate and the smallest annual price increase since September 2021. While price increases on goods and showed easing on an annual basis, they still inched up .4% over January, according to the report. The increasing cost of shelter was...