Hidden behind ongoing bank headlines was the Consumer Price Index (CPI) release of February inflation data on Tuesday morning.

The verdict: Headline prices increased 0.4% through the month of February, while core inflation (which strips out food and energy prices) accelerated 0.5% month-over-month (from last month’s 0.4%).

To dig into some of the details, services prices are still increasing at a pretty fast clip, with shelter (think housing rentals) the biggest driver once again (accounting for 70% of the increase in headline prices). People also seemed to have made a lot of use of pet services and hair salons over the last month. On the other hand, a promising sign came as goods deflation continued—used auto prices fell on the month.

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