Inflation rate picked up in January, CPI report shows. What it means.
Inflation accelerated in January, rising 3% on an annual basis, indicating that the Federal Reserve's push to drive inflation down to a 2% annual rate has stalled out, at least temporarily. The Consumer Price Index was forecast to rise 2.
Inflation came in hotter than expected in January
Inflation accelerated in January, with the consumer price index rising 3% year over year, above economists' expectations.
Inflation heated up in January, as prices for groceries and housing picked up
Inflation proved stubborn in 2024, a trend that probably extended into the new year and could complicate President Donald Trump ’s policy ambitions. A key gauge of inflation — the consumer price index — is expected to show Wednesday morning that prices rose by 2.9 percent in January from a year earlier, according to economists’ forecast.
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Inflation Heated Up in January, Freezing the Fed
Consumer prices rose 3%, extending a recent pattern of increases at the start of the year that likely derails the prospect for Fed rate cuts so long as the economy remains solid.
Everyday prices increased again in January, and so did inflation
Consumer Price Index showed that while average price gains are moderating, some everyday prices are seeing big price gains.
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