Inflation cooled in January, but not as much as hoped
02/13/2024 21:01
Inflation rose more than expected in January. The Consumer Price Index rose 0.3% month-over-month versus a 0.2% estimate. Year-over-year, prices rose 3.1% compared to an estimated 2.9%. When food and energy prices are stripped out, core prices rose 0.4% month-over-month. Economists had been expecting 0.3%. Year-over-year, prices rose 3.9% compared to an expectation of 3.7%. The data makes it even more likely the Federal Reserve will remain on pause at its March meeting as it tried to bring inflation down to its 2% target. Yahoo Finance's Brad Smith and Rachelle Akuffo report the breaking numbers. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Stephanie Mikulich
Inflation rose more than expected in January. The Consumer Price Index rose 0.3% month-over-month versus a 0.2% estimate. Year-over-year, prices rose 3.1% compared to an estimated 2.9%.
When food and energy prices are stripped out, core prices rose 0.4% month-over-month. Economists had been expecting 0.3%. Year-over-year, prices rose 3.9% compared to an expectation of 3.7%.
The data makes it even more likely the Federal Reserve will remain on pause at its March meeting as it tried to bring inflation down to its 2% target.
Yahoo Finance's Brad Smith and Rachelle Akuffo report the breaking numbers.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Stephanie Mikulich