Inflation rate picked up in January, CPI report shows. What it means.
Inflation accelerated in January, rising 3% on an annual basis, indicating that the Federal Reserve's push to drive inflation down to a 2% annual rate has stalled out, at least temporarily. The Consumer Price Index was forecast to rise 2.
Inflation hit 7-month high of 3% in January. Here's what it means for Fed rate cuts
Inflation slowed through much of last year – falling as low as 2.4% from a 40-year high of 9.1% in mid-2022 – but it has remained stubbornly high since fall. The cost of services such as car insurance, auto repairs and health care have continued to rise in part because of the delayed effects of pandemic-related vehicle shortages or wage increases.
What does January’s inflation report mean for me?
Here’s what Wednesday’s inflation report means for your wallet and how it could impact the Fed’s next interest rate decision. Here’s which prices are up compared with a year ago: Grocery prices surged 0.5% just in January, driven higher by a 15.2% jump in egg prices.
CPI Inflation Was Higher Than Expected In January
Inflation rose unexpectedly in January, with the Consumer Price Index rising 3% over the last 12 months, up from 2.9% in December. Forecasters had expected inflation to slow down, but prices for food, gas, and housing pushed the inflation rate out of the 2% range for the first time since May.
January PPI Report: What Investors Need to Know About Rising Inflation
A huge source of the PPI increase comes from final demand goods, representing roughly one-third of January’s increase. Fueling this was diesel jumping 10.4% and rising prices for chicken eggs. Chicken egg prices are increasing as farmers kill off flocks to hamper the spread of the avian flu.
CPI and PPI Reports Suggest the Fed May Catch a Break on January Inflation
Two major indicators this week both showed inflation running a little hotter than expected last month. But there may still be some good news for the Federal Reserve. Economists now think its preferred inflation gauge—the PCE,
NerdWallet1y
Consumer Price Index: What It Is and Why It Matters
However, this does not influence our evaluations ... Updated Feb. 12. Current index: The consumer price index, or CPI, increased 0.5% in January, according to the most recent report.
Forbes4mon
What Is The Consumer Price Index And How It Impacts Investing
The Consumer Price Index “is a measure of the average change ... and the sales and excise taxes consumers pay. The CPI does not include income or Social Security taxes. Nor does the CPI ...
Inflation ticks up to 3 percent annual increase in January
The consumer price index (CPI) increased by 0.5 percent in January to hit an annual increase of 3.0 percent after advancing by 2.9 percent in December. Economists were expecting the CPI to ...
Business Insider7mon
Consumer Price Index (CPI): Understanding Inflation's Impact on Your Wallet
How does the CPI affect you? The CPI is indicative of the rising price level, which plays a key role in the purchasing power of individual consumers. An increase in the value of the index ...
Investopedia1y
Limitations of the Consumer Price Index (CPI)
For example, during a period when energy costs rose by more than 50% and the prices of some of the most commonly purchased grocery items increased by nearly 30%, the CPI continued to show a very ...
US inflation heats up to 3% for first time since June
It’s not just eggs. Many commonly purchased goods and services got more expensive in January, driving inflation in the wrong ...
Barron's2mon
Inflation Is Stuck. What That Could Mean for a December Fed Rate Cut.
The BLS is scheduled to release the latest consumer price index on Wednesday at 8:30 a.m. Eastern time. (Micah Green/Bloomberg) The progress bringing down inflation has stalled out in recent ...
Yakima Herald-Republic22d
Despite Increases, December CPI Shows Inflation Still Under 3%
“When the CPI goes up, especially in areas like dining out and services, it means our expenses are increasing, which can affect how much we can buy with our money.” So how does the BLS get ...