US: Annual CPI rises 1.6% in January vs 1.5% expected

According to the monthly report published by the U.S. Bureau of Labor Statistics, inflation, as measured by the Consumer Price Index (CPI) stayed unchanged for the second month in a row December and the annual rate fell to 1.56 from 1.9%. Meanwhile, the core CPI, which excludes volatile food and energy prices, rose 0.2% and 2.2% on a monthly and yearly basis, respectively.

Key takeaways from the press release

  • The energy index declined for the third consecutive month, offsetting increases in the indexes for all items less food and energy and for food.
  • The food index rose 1.6 percent over the past year, while the energy index declined 4.8 percent. 
  • The gasoline index continued to decline, falling 5.5 percent. 

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