After a 3.4% increase in December, Reuters economists predicted a 2.9% yearly increase.
The current consensus is that the US Federal Reserve will decrease interest rates in July.
Inflation came in at 3.1% in January, according to figures released by the U.S. Bureau of Labor Statistics’ consumer price index (CPI). While this was better than market expectations of 2.9%, it was below the 3.4% inflation print from December. The report has also moved the U.S Federal Reserve’s rate cut announcement from June to July, according to market analysts.
Today, the U.S. Bureau of Labor Statistics said that the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.3% on a seasonally adjusted basis in January, after a 0.2% rise in December. The all-items index rose 3.1% year-over-year (before adjusting for seasonality). After a 3.4% increase in December, Reuters economists predicted a 2.9% yearly increase in consumer inflation for January.
All Eyes on Fed Now
Speculation among investors over
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