PiCK

U.S. January Consumer Price Index (CPI) up 2.4%…below market expectations

Uk Jin

Summary

The Bureau of Labor Statistics (BLS) said January’s Consumer Price Index (CPI) rose 2.4% year on year, below the market forecast of 2.5%.
Core CPI rose 2.5% year on year and 0.3% month on month, both in line with economists’ forecasts.
CNBC reported that inflation cooled due to lower energy prices and a modest rise in rents, and that Treasury yields also fell immediately after the release.

The U.S. January Consumer Price Index (CPI) rose less than market expectations.

The Bureau of Labor Statistics (BLS), under the U.S. Department of Labor, said on the 13th (local time) that last month’s CPI increased 2.4% year on year. That is 0.1% point below the market forecast of 2.5%.

The month-on-month increase released alongside it also came in at 0.2%, below expectations.

Core CPI, which excludes volatile food and energy prices, rose 2.5% from a year earlier, in line with economists’ forecasts. It also increased 0.3% from the prior month, also matching projections.

U.S. business news outlet CNBC said, “The CPI rose 2.4% year on year, delivering a downside surprise below expectations,” adding that “falling energy prices and a relatively modest rise in rents led the disinflation.” It continued, saying it was “an overall good CPI print,” and reported that “Treasury yields fell immediately after the release.”