The data shows that inflation was already high before the outbreak of the war in Iran.

The inflation index favored by the Federal Reserve remained at a high level in February. The Personal Consumption Expenditure Price Index and the Core PCE Price Index both rose 0.4%. The PCE Price Index's year-on-year increase remained stable at 2.8%. At the same time, the government also revised downward the fourth quarter GDP growth data from the previous estimate of 0.7% and the initial estimate of 1.4% to an annualized growth of 0.5%. This was lower than the third quarter's growth of 4.4%. Weekly first-time jobless claims totaled 219,000, an increase of 16,000 from the previous week and higher than expected. The 10-year Treasury bond yield was 4.30%, up from 4.29% on Wednesday. The 2-year Treasury bond yield was 3.78%, down from 3.79% on Wednesday.