Decline in consumer prices deepens in February

Latest reading: Consumer prices declined 0.9% in annual terms in February, following a 0.7% fall in the prior month. February's reading was the weakest since January 2024. Relative to the previous month's data, there were milder price pressures for food and beverages (+0.3% in annual terms vs +0.9% in January) and housing and utilities (-1.1% vs -1.0% in January). In contrast, there were more notable price pressures for transportation and communication (-2.9% vs -3.0% in January) and recreation and education (+0.9% vs +0.7% in January). Meanwhile, core consumer prices rose 0.6% on a year-on-year basis in February, stable from the prior month's reading. Lastly, consumer prices fell 0.24% in February on a month-on-month basis, following a 0.28% decline in the prior month.

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