According to the US Bureau of Labor Statistics (BLS), inflation in the US, measured by the change in the Consumer Price Index (CPI), eased to 3.1% on a yearly basis in January from 3.4% in December.
Despite market expectations of 2.9%, this reading came in above estimates. The Core CPI, excluding volatile food and energy prices, also rose 3.9% in the same period, matching December’s increase and surpassing analysts’ projections of 3.7%.
The latest inflation numbers also show that the US Core CPI has risen more than expected. The US core consumer prices, excluding volatile items such as food and energy, rose by 0.4% from the previous month in January of 2024, accelerating from the 0.3% increase in the earlier period and above expectations of a 0.3% rise.
