In the US, inflation for February was reported below expectations at 2.8 percent.

The eagerly awaited US inflation data has been released. In February, inflation in the US came in at 2.8 percent, below expectations.

Expectations were leaning towards inflation being around 3 percent.

In February, monthly inflation rose by 0.2 percent. It was expected that monthly inflation would increase by 0.3 percent in the markets.

The country’s January inflation had come in above estimates at 3 percent.

Excluding energy and food prices, core inflation rose by 0.2 percent in February, with a year-on-year increase of 3.1 percent. A monthly increase of 0.3 percent and a year-on-year increase of 3.2 percent were anticipated in core inflation.

Following the inflation data, the dollar index dipped to 103.4 levels.