Inflation expected to have cooled in January
ABC News
An inflation report to be unveiled on Friday will offer the latest snapshot of price increases as affordability remains a concern for many Americans.
An inflation report to be unveiled on Friday will offer the latest snapshot of price increases as affordability remains a concern for many Americans and the political calendar turns closer to election season.
The data is set to arrive days after fresh hiring figures showed stronger-than-expected job growth in January, even though an updated estimate released at the same time indicated a near-paralysis of the labor market last year.
The murky hiring picture marked the latest in a recent series of mixed signals in economic data, which have left observers uncertain about the potential risk posed by elevated inflation alongside sluggish hiring.
Economists expect inflation to have cooled last month, falling from 2.7% in December to 2.5% in January. That anticipated reading would mark the lowest annual inflation rate since May, but it would keep price increases a half-percentage point above the Federal Reserve’s target of 2%.
Observers will closely watch price movements for some household staples, which have faced sharp increases of late. In December, the most recent month on record, food prices showed their largest monthly jump since 2022.
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