In January 2024, the United States experienced a slight cooling in consumer inflation, with the Consumer Price Index (CPI) rising by 3.1% year-over-year, a decrease from December's 3.4% but still above the forecasted 2.9%. Core CPI, which excludes food and energy, also saw a slight decrease to 3.9% year-over-year, marking the lowest level since August 2021. Despite these decreases, the inflation rate remained above economists' expectations, suggesting a more gradual and fitful easing of price pressures than anticipated. This has led to a recalibration of expectations regarding the Federal Reserve's monetary policy, with traders now pushing back bets on interest rate cuts to June, as opposed to earlier predictions. The persistence of inflationary pressures, particularly in housing, indicates that the Fed may maintain a cautious approach to adjusting borrowing costs in the near term.
CPI printed this morning at a 3.1% annual increase, with a 0.4% monthly increase for Core-CPI. Housing remains stubbornly inflationary. Fed cannot cut anytime soon, as the first cut is now officially pushed out to June. We warned March was too aggressive given spot inflation. https://t.co/08e7OgfeTg
Rate cut odds are rapidly being priced out after today's hot CPI print. 3 weeks ago the market expected 3 rate cuts by June, now it barely expects 1. March bank failure time 🍿 https://t.co/GlOEMpm6f8
A closely watched US inflation metric showed some cooling in January but at a slower rate than expected, diminishing chances of an early interest rate cut. https://t.co/QmOLOIlmu9
Hot Inflation Shows Fed Rate Cuts as Far Away as Ever https://t.co/oLNa2y4YdB
Hotter-than-expected inflation upends markets’ thinking on when Fed will cut rates https://t.co/jULEeUdvt2
Based on it's recent trajectory, CPI inflation will be 3% to 4% in 2024. Graph via @katekgen at @BudgetHawks https://t.co/KFV3TkYwNJ
US CPI in January slowed to 3.1% from a year ago, the Labor Department reported Tuesday. https://t.co/sL4OTFFWlH
Consumer inflation in the United States cooled last month yet remained elevated in the latest sign that the pandemic-fueled price surge is only gradually and fitfully coming under control. https://t.co/mRj3V54Yzr
Expectations of a big drop in the YoY consumer price index (from +3.4% to +2.9%) were disappointed. The YoY print for headline CPI was 3.1%. Consumer prices rose 0.3% MoM (more than the 0.2% expected). Core CPI fell below 4.00% YoY for the first time since May 2021 but the…
Inflation slows but remains elevated; price pressures easing only gradually https://t.co/tLLthiggpD
Hot inflation reading reinforces the Fed's cautious approach to rate cuts in 2024 https://t.co/Z4TdfaiK4d by @Jenniferisms
INFLATION NATION! Labor Dept. Report Shows Inflation Hotter Than Expected in January https://t.co/qrRskm47XN
⚠️JUST IN: *TRADERS PUSH BACK RATE CUT BETS TO JUNE AS INFLATION FAILS TO COOL https://t.co/hkxHz5s0oJ 👈 $SPY $QQQ https://t.co/ALGdPdFzL2
CPI comes in hot at 3.1%, with core at 3.9% March rate cut off the table, while May looking increasingly so Goodbye 5 rate cuts in 2024. Don't fight the Fed. Three rate cuts this year https://t.co/ieoY7KO6e2 https://t.co/4qtCvm7L3W
Inflation just won't go away CPI came in at 3.1% vs 2.9% expected and Core CPI up 3.9% vs 3.7% est The odds of an upcoming rate cut just plummeted... https://t.co/8A9qOzxrkV
THERE IS NOW ONLY A 8% CHANCE THAT THE FED WILL START CUTTING RATES IN MARCH THIS IS DOWN FROM 70% + JUST A MONTH AGO https://t.co/tlCqlMNpzD https://t.co/zaQWqkWrOi
Consumer-price growth slowed in many US regions in January — although inflation isn’t coming down as fast as economists expected https://t.co/bKWOI6PvJ9
US CPI numbers are in, and inflation cooled slightly to 3.1% YoY, defying forecasts of a 2.9% rise. Despite the dip from December’s 3.4%, the uptick from expectations signals persistent inflationary pressures. https://t.co/gdfk50xN2Q
US inflation slows by less than expected https://t.co/VxmBM6A4nG
US rate cut expectations dramatically lower after hotter CPI in the US March odds now 9% vs 18% yesterday May odds now just 30% vs 50% yesterday
The probability of a March rate cut moved down to 9% after the hotter-than-expected inflation report. Only a month ago the probability was 77%. https://t.co/TCiv7Y1Pts
Inflation rises faster than expected in January as high prices persist https://t.co/LeGJj4EGuy #FoxBusiness #ncpol
The inflation rate dipped in January 2024, but missed the decline forecasted by economists. Overall price pressures increased at a 3.1% annual pace last month, data from the Bureau of Labor statistics showed Tuesday, representing a notable drop from the previous reading but… https://t.co/d7lSc7NogA
Increases over last 3 years... CPI Medical Care: +6.3% CPI Apparel: +8.6% US Wages: +15.5% CPI Shelter: +19.4% CPI New Cars: +19.5% Actual Rents: +20.0% CPI Used Cars: +20.7% CPI Food away from home: +20.9% CPI Food at home: +21.0% CPI Gas Utilities: +27.4% CPI Electricity:…
Inflation comes in hotter than expected https://t.co/DTaWylv4nj
Annual inflation in the United States cooled last month yet remained elevated in the latest sign that the pandemic-fueled price surge is only gradually and fitfully coming under control. https://t.co/iFRuVJs8u0
It's taking a while, but it's happening: CPI Rent inflation continues to cool as expected. Month-over-month rent inflation in January 2024 (as measured by the CPI with its notable lag) dropped to the lowest level since August 2021, and should continue to cool moving forward.… https://t.co/8e7tYxG7nA
No rate cuts please. Headline CPI at 3.1% and core at 3.9%. If we care about inflation from a consumer perspective (and we should) CPI is more relevant than PCE. Its larger housing weight is more reflective of working families’ budgets. https://t.co/BVXF7Zekru
After the hotter-than-expected CPI print, traders all-but price out the chance of a March rate cut. https://t.co/3ysBsb3IjZ
BREAKING: Inflation Exceeds Expectations at 3.1%. Read more: https://t.co/qrX8OmBIqH Official data reveals US inflation was higher than forecasted last month, causing an unplanned do...
🔥Hotter-than-expected CPI #inflation report by @BLS_gov w CPI up 3.1% y/y & core CPI up 3.9% y/y. More evidence too soon for Fed to cut FFR target & needs to further cut its assets. Volatile energy prices are helping hold down CPI inflation but likely not for much longer. https://t.co/nrH780aBo6 https://t.co/L7UQIsmSh1
Inflation eases less than forecast, wrecking bets on spring Fed rate cut https://t.co/uaUy2Hs59T
U.S. inflation slows but remains elevated in sign that price pressures are easing only gradually https://t.co/kIm8Y8CdO9
At the beginning of this year, odds for a March rate cut were at 81% After today's CPI print, odds for a March rate cut have fallen to just 5.5%
⚠️ TRADERS BET FED WON'T CUT RATES UNTIL JUNE AS INFLATION FAILS TO COOL (Reuters) Federal Reserve policymakers will probably wait until June before cutting interest rates, traders bet on Tuesday, after a government report showed consumer inflation ran higher than expected… https://t.co/BJVWboFx7p
US inflation slows but remains elevated in sign that price pressures are easing only gradually https://t.co/xjyIm4CLBR
Inflation Was Far Worse Than Expected In January https://t.co/AIjFzlWbvo https://t.co/UZl9IPm8I3
JUST IN: Prices cooled less than expected in January. This signals that completely returning inflation to normal may be more difficult than economists anticipate. https://t.co/urcEw8qsUB
BREAKING: Prediction markets are now pricing-in just 4 rate cuts in 2024 after January CPI inflation hits 3.1%. This is a huge slide in expectations as markets were pricing-in 6 rate cuts just over a month ago, according to @Kalshi. The most recent Fed guidance was for 3… https://t.co/3TR8Vs1eIz
US CPI The three-month annualized running rate of the core CPI has accelerated to 4%, from 3.3% in December.
The United States announced that the unseasonally adjusted CPI annual rate in January was 3.1%, which was expected to be 2.90% and the previous value was 3.40%.
Inflation eased further in January as Fed weighs when to cut rates. @washingtonpost https://t.co/aBLmSGUh8E
CPI Prints Hotter Than Expected In January As Food & Utilities Jumped https://t.co/t72yEW995D
US consumer prices rose by more than forecast in January, highlighting the bumpy road to disinflation https://t.co/EzIWzohG04
Price changes over last year (Jan CPI report)... Transportation: +9.5% Shelter: +6.0% Food away from home: +5.1% Electricity: +3.8% Overall CPI: +3.1% Food at home: +1.2% New Cars: +0.7% Medical Care: +0.6% Used Cars: -3.5% Gasoline: -6.4% Fuel Oil: -14.2% Gas Utilities: -17.8%
NEW: CPI Inflation declined to 3.1% year-on-year, growing 0.3% month-on-month Core CPI inflation declined slightly to 3.9% year-on-year, the lowest level since August 2021, growing 0.4% month-on-month https://t.co/BMFe4Mjwrg
Inflation eased further in January as Fed weighs when to cut rates https://t.co/zZ2OKvEcid
US CPI for January 2024 was 3.1% [Dec 2023: 3.4%, Jan 2023: 6.4%]: "The all items less food and energy index rose 3.9% over the last 12 months, the same increase as for the 12 months ending December" https://t.co/iWSxn9dHO7
The inflation rate dropped in January compared with the year before, as the Fed weighs when to cut borrowing costs. https://t.co/A5nbG4YcuB
🔴 TRADERS OF SHORT-TERM US INTEREST-RATE FUTURES BET THE FED WILL NOT CUT RATES UNTIL JUNE AFTER STRONG INFLATION DATA.
Inflation may have fallen below a 3% annual rate last month, which would be the lowest level in nearly three years. https://t.co/9JpV4becbb
U.S. CPI: +3.1% YEAR-OVER-YEAR (EST. +2.9%) U.S. CORE CPI: +3.9% YEAR-OVER-YEAR (EST. +3.7%)
Swiss inflation unexpectedly eased in January, a development that could open the door to earlier rate cuts at the Swiss National Bank https://t.co/muBCBYyyYx via @economics @bbenrath #Switzerland
Today on the econ calendar is Jan CPI at 8:30 am. Economists expect a 0.2% gain in headline CPI, with year on year falling to 2.9% from 3.4%.
Inflation might have dropped below 3% last month for 1st time in 3 years, a milestone for Biden https://t.co/wIlFz3KDAL
Swiss inflation slows to 1.3%, opening door for earlier SNB rate cuts https://t.co/QHoLsIVqb0 via @bbenrath https://t.co/w97iJtZLgD
Swiss Inflation Slows To 1.3%, Opening Door For Earlier SNB Cuts - BBG https://t.co/0DS3GJGTVV
Swiss inflation unexpectedly eased in January, a development that could open the door to earlier rate cuts at the Swiss National Bank https://t.co/drEzNtDKgx
⚠️ WHAT'S YOUR PREDICTION FOR TUESDAY'S U.S. JANUARY CPI INFLATION REPORT? *ESTIMATE: 2.9% Y/Y *PREVIOUS: 3.3% Y/Y 🇺🇸🇺🇸 https://t.co/tCR6eV6PAw
CPI Preview: "There's A Genuine Risk" Inflation Will Come In Hotter Than Expected https://t.co/F4bL6nJq7V
Inflation expected to fall below 3% for the first time since March 2021 https://t.co/nOs61sh0mu by @allie_canal
The pulse of US inflation likely continued to slow at the start of the year, helping to feed expectations that the Federal Reserve will find interest-rate cuts more palatable in the coming months, according to Bloomberg https://t.co/YfEodsbGFZ
This week's anticipated data release is the January CPI Wall Street forecasters expect the core CPI index rose nearly 0.3% from December, lowering the 12-month rate a touch to 3.8% They see the headline index up 0.15% from November, dropping the 12-month rate to 2.9% (vs 3.4%) https://t.co/Uvkjj9Ll8w
Financial markets are counting on consumer-price inflation to fall below 3% for first time since 2021 https://t.co/6sY9kpovJQ
At 5.10%, January Retail Inflation Eases To 3-Month Low https://t.co/6mESejnMxP https://t.co/pa63rQlmv1
The consumer price index (CPI) for January 2024 is projected to rise by 2.9% year-over-year. https://t.co/t72fJJbHre https://t.co/l6ZAAopeY4
🇺🇸The @ClevelandFed Survey of Firms’ Inflation Expectations -- measure US #CEOs #CPI #inflation expectations over next 12 months -- eased from 4.2% to 3.4% in Q1 2024. ✅Lowest since 2021 Q2 ✅Down from 7.3% in 2022 Q4 https://t.co/t3h2HlDBQU https://t.co/yrKpQzds8b
Retail inflation eases to a three-month low in January this year https://t.co/CgeQlY8dUo
India retail inflation eases to 3-month low but no rate cuts expected yet https://t.co/4JJTJxWAz6 https://t.co/uN2hrbTwZi
💡 India: CPI inflation eases to 5.1% y/y in January - @EmergingMWatch on https://t.co/orvmA6Wqwk Full Story → https://t.co/gBBGs1gR0w
Retail #inflation eases to 5.10% in January, 2024, as per Government data. https://t.co/f5ANlrSyg2
Retail inflation eases to 5.10% in January, 2024, as per Government data. https://t.co/d65oqp0cnY
India’s inflation eased to a three-month low in January as food prices moderated https://t.co/3KboxaWHiJ