In January, the overall US Consumer Price Index (CPI) decreased to 3.09% year-over-year from 3.35% in December, surpassing estimates which predicted a drop to 3.0%. The core CPI, excluding food and energy, declined to 3.87% year-over-year, marking the lowest core inflation reading since August 2021, but still above the anticipated 3.7%. The Labor Department reported that the CPI in January slowed to 3.1% from a year ago, compared to a prior rate of 3.4%. This decline in inflation is seen as a sign of easing price pressures on US goods and services, potentially increasing consumers' buying power. Additionally, specific categories such as food inflation saw a slight decrease from 2.7% to 2.6%, while energy inflation experienced a more significant drop to -4.6%. The headline inflation rate dropped to 3.1%, with core inflation at 3.9%.
The latest consumer price index (CPI) data was fundamentally strong. The CPI showed that the headline inflation rate dropped from 3.4% in December to 3.1% in January. Food inflation dropped from 2.7% to 2.6%, while energy inflation fell to -4.6%. Furniture inflation dropped to… https://t.co/aGokmt2vQY
#Inflation declined in January and consumers’ buying power rose as price pressures for U.S. goods and services continued to ease. Here's a breakdown of the numbers... https://t.co/5he32V2Foo #cpi #economy #recession #bidenomics
January CPI +3.1% year/year vs. +2.9% est. & +3.4% prior … core +3.9% vs. +3.7% est. & +3.9% prior https://t.co/wtR0fycl2e
US CPI in January slowed to 3.1% from a year ago, the Labor Department reported Tuesday. https://t.co/sL4OTFFWlH
Overall US CPI moved down to 3.09% YoY in January from 3.35% in December. This was above estimates of a move down to 3.0%. US Core CPI (ex-Food/Energy) moved down to 3.87% YoY, the lowest core inflation reading since August 2021. But this was also above estimates of 3.7%. https://t.co/c62lIS5Pwl