INFLATION HIGHER THAN EXPECTED IN JANUARY, PRICES UP 3.1% IN LAST YEAR

Key Points:

  • The Consumer Price Index (CPI) rose 0.3% in January after rising 0.2% in December.
  • CPI increased 3.1% from a year ago, down from 3.4% in December, but above consensus of 2.9%.
  • The index for shelter rose 0.6%, the index for food rose 0.4%, and the energy index fell 0.9% over the month.
  • The index for food at home increased 0.4% over the month while the index for food away from home rose 0.5%.
  • The core CPI, which excludes food and energy, rose 0.4% in January and is up 3.9% from the previous year.
  • The energy index is down 4.6%, the food index is up 2.6%, and shelter is up 6.0% from the previous year.
  • The Right Facts will continue to monitor CPI.
Source