Annual inflation slowed last month, in a welcome development for homebuyers that could bring some relief to mortgage rates.

Overall prices rose 2.8% in February from a year earlier, a slowdown from the 3% increase recorded in January, according to the Labor Department’s consumer price index (CPI) data released on Wednesday.

On a monthly basis, prices rose 0.2%, which was slower than the 0.3% consensus expectation from economists.

Stocks reacted positively to the news, with futures for all three major indexes rising in the pre-market after several days of heavy selling driven by concerns over the Trump administration’s trade policies.

Rising housing costs accounted for nearly half of the overall monthly inflation figure, but were partially offset by falling prices for gasoline and airfares.

“With recession worries rising, I expect a lot of attention to be focused on this inflation reading,” says Realtor.com Chief Economist Danielle Hale. “However…I don’t expect it to be enough of an outlier to change the general view that inflation is gradually slowing.”

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