The January CPI report is the best inflation news we've had in months. Here's why.
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The January inflation reading offered encouraging signs for consumers and the economy, with the Consumer Price Index coming in below Wall Street expectations and falling to its lowest level in nine months. Edited by Aimee Picchi In:
The January inflation reading offered encouraging signs for consumers and the economy, with the Consumer Price Index coming in below Wall Street expectations and falling to its lowest level in nine months.
Inflation averaged a 2.6% annualized rate from November through January, compared with nearly 2.9% from July through September. (October's CPI report was canceled due to the government shutdown.) Cooling inflation could provide some financial relief for budget-strapped consumers, experts said.
"Inflation fell to the lowest level since May, and key items such as food, gas and rent are cooling off," Heather Long, chief economist at Navy Federal Credit Union, said in an email. "This will provide much-needed relief for middle-class and moderate-income families."
Here are five takeaways from today's CPI report, which tracks changes in prices of goods and services across the U.S.
Friday's report showed that January's inflation rate dipped to 2.4% on an annualized basis, below economists' forecasts of 2.5%.
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The Consumer Price Index rose 2.4% in January from a year earlier, coming in below forecasts and signaling some cooling in price pressures. Edited by Aimee Picchi In:
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