US CPI eased once more the previous month, but core prices extended its surge at an uneased pace as housing rentals kept soaring.

According to the Bureau of Labor Statistics, the consumer price index edged upby 0.4% in February, which is less than the 0.5% tick up seen in January. The annual rate of inflation plunged from 6.4% to 6.0%, and it is currently less than one-third of what it was in June of last year, when it peaked at almost 9%.

In spite of this, it is still three times the Federal Reserve's 2% goal rate that grant the monetary authority little further room in its combat against inflation.

Excluding the volatile components, core prices increased by a substantial 0.5% accelerating from 0.4% previous month. As a result, the annual core rate dropped far less than the headline rate, dropping from 5.6% in February to 5.5% now.

When compared to a year ago, the cost of eating at home iedged by a relatively modest 0.3%, but it was up 10.2%, while the cost of eating out jumped by 0.6% and was up 8.4%.