The much-awaited inflation data of United States (US) signals cooling in headline Consumer Price Index (CPI) standing at 2.8 per cent year-on-year from 3 per cent in January, as per the official data released by US Bureau of Labor Statistics.

US inflation fell more than expected to 2.8 per cent in February, bolstering the case for 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.

The Labor Department released the consumer price index for February which found inflation was 2.8%, in line with economists' expectations ahead of the next Federal Reserve meeting.

The much-anticipated inflation data for the United States has shown a significant drop in the Consumer Price Index (CPI), signaling a cooling trend in price rises. According to official data released by the U.