CONSUMER PRICES JUMPED IN JANUARY ABOVE EXPECTATIONS

[infogram id=”e0864fe5-0a71-4e3e-a521-6bffc9fc7a76″ prefix=”uWF” format=”interactive” title=”PERSONAL SPENDING 02242023″]

Key Points:

  • U.S. consumer spending rose by 1.8%, or $312.5 Billion, in January, after falling 0.1% in January.
  • Personal income increased by 0.6%, or $131.1 Billion, in January, up from 0.3% in December, but below the 0.9% consensus.
  • The overall personal consumption expenditures price index rose 0.6% in January and is up 5.4% from a year prior, above the 5.0% consensus.
  • The core personal consumption expenditures price index, which excludes food and energy, rose 0.6% in January and is up 4.7% from a year prior, above the 4.3% consensus.
  • The Right Facts will continue to monitor spending, prices, and income.
Source