US January CPI Exceeds Expectations
CPI Overview
The latest Consumer Price Index (CPI) data for January indicates a higher-than-expected increase in inflation rates. The US CPI (NSA, YoY) recorded a rise to 3.0%, surpassing both the previous 2.89% and the forecasted 2.9%. Similarly, the US CPI (SA, MoM) increased to 0.47%, exceeding the previous 0.36% and the forecasted 0.3%.
Core CPI
The Core CPI, which excludes food and energy prices, also showed a notable rise. The Core CPI (NSA, YoY) reached 3.26%, above the previous 3.24% and the forecasted 3.1%. The Core CPI (SA, MoM) was reported at 0.45%, significantly higher than the previous 0.21% and the forecasted 0.3%.
Components Details
Several components showed significant changes. Transportation Services surged to 8.32% from the previous 7.47%. Medical Care Commodities saw a notable increase to 2.29% from 0.49%. Energy prices rebounded to 0.8% from a previous decline of -0.31%. Conversely, Apparel saw a decrease to 0.47% from 1.32%, and Shelter dropped to 4.4% from 4.62%.