Inflation rose 3% in January, hotter than expected
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Inflation rose in January as the Federal Reserve considered continuing hiatus on its interest rate cuts plans, and stubbornly high prices continued to strain American household finances.
On Wednesday, the Labor Bureau said the Consumer Price Index, a broad measure of everyday products such as gasoline, food and rent costs, rose 0.5% in January to 3% per year.
Annual and headline CPI figures are estimated by the economists voted by LSEG, where inflation rates increased by 0.3% each month, up 2.9% from a year ago, and higher than last month’s 0.4% and 2.9 measurements. It’s higher than that. %, respectively.
The so-called core price, which excludes more volatile measurements for gasoline and food and excludes more volatile measurements to improve price growth trends, rose 0.4% in January and 3.3% per year, compared to forecasts It was also expensive. LSEG economists estimated an increase of 0.3% and a rise of 3.1% each month. Both figures were 0.1 percentage points higher than last month.
This is a developing story. Please check for updates.