INFLATION ROSE 0.5% IN JANUARY, HIGHEST RATE SINCE OCTOBER

Key Points:

  • The Consumer Price Index (CPI) rose 0.5% in January after falling 0.1% in December.
  • CPI increased 6.4% from a year ago, down from 6.5% in December, and the lowest reading since October 2021.
  • The rate of price increases remained above 5% for the twentieth straight month.
  • The index for energy decreased 2.0% over the month, food increased 0.5%, and shelter increased by 0.7% over the month.
  • The core CPI, which excludes food and energy, rose 0.4% in January and is up 5.6% from the previous year.
  • The energy index is up 8.7% and the food index is up 10.1% from the previous year.
  • The Right Facts will continue to monitor CPI.