US inflation fell more than expected to 2.8 per cent in February, bolstering the case for the Federal Reserve to cut interest rates amid signs of slowing growth in the world’s largest economy.
Wednesday’s annual consumer price index figure was below both January’s 3 per cent and the 2.9 per cent expected by economists, according to a Reuters poll.
Stock futures extended gains on Wednesday. S&P 500 futures were up 1.1 per cent, compared with 0.8 per cent before the figures.
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