According to the latest Bureau of Labor Statistics inflation report, inflation cooled more than expected in January.
The Consumer Price Index showed a 0.2% rise in consumer prices in January from December and a 2.4% year-over-year increase, compared with economists’ forecasts of a 0.3% monthly rise and a 2.5% annual increase.
On a “core” basis, excluding volatile categories such as energy and food, prices increased by 0.3% in the past month and 2.5% over the previous year in January.
The energy index decreased 1.5 percent in January, while the gasoline index decreased 3.2 percent over the month. In contrast, the natural gas index increased 1.0 percent over the same period.
Today’s report represents the slowest annual growth in core inflation since early 2021.
By CEO NA Editorial Staff
