Inflation south of the border eased a touch in February compared with the month before but is still high.

American consumer prices rose 0.4%, just below the 0.5% increase in January.

However, so-called core prices; which exclude volatile items such as food and energy, were reversed — up 0.5% last month, slightly higher than January’s 0.4% gain.

It’s core prices that the central bank pays particular attention to as a measure of underlying inflation pressures.

As a result, the U.S. Federal Reserve is expected to hike its key interest rate 0.25% next week and again in May, when it could be in the 5%-5.25% range.

The bank’s inflation target is 2%.