White House cheers cooling inflation report: ‘Moving in the right direction’

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The White House cheered a drop in inflation in February as President Donald Trump fends off growing scrutiny over his handling of the economy.

The latest consumer price index, released in a new report Wednesday, showed annual inflation dropping from 3% in January to 2.8% in February, while core inflation, which factors out food and energy prices, was recorded at 3.1%. Both metrics registered a 10th of a percentage point below forecasts.

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