Summary:
US January inflation was up 3.1%, down from 3.4% prior. High shelter costs burden consumers. Economists expected a 2.9% rise.
US CPI YoY Feb, 12/3/2023 (Tue)
Previous: 3.1% Forecast: 3.1%
inflation in the US increased 3.1% in January, down from 3.4% in the previous month, as stubbornly high shelter prices weighed on consumers. Economists had forecast an annual gain of 2.9%.
The increase in prices was the largest in four months. On a "core" basis, which strips out the more volatile costs of food and energy, prices climbed 3.9% over last year.
Noteworthily, annual inflation has remained above the 2% target. But the Fed's preferred inflation gauge, the core PCE price index, has come in below that rate on a six-month annualized basis.
Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
Trump tariffs may spike yuan volatility, China surplus hits record, euro near parity. Chinese stocks are downgraded but offer record dividends.
2025-02-05
US private payrolls slowed in December, but a strong labor market suggests the Fed will delay rate cuts, according to ADP.
2025-02-05
The yen hit a seven-week high on Wednesday as delays to tariffs on Canada and Mexico eased concerns about the Fed's ability to cut interest rates.
2025-02-05
