The New York City skyline in the United States

United States Inflation January 2022

United States: Inflation continues to surge in January

Consumer prices rose a seasonally-adjusted 0.65% over the previous month in January, accelerating from December’s 0.58% rise. Looking at the details of the release, food and beverage prices rose at a quicker pace in January compared to the previous month, while price pressures for transportation eased.

Inflation came in at 7.5% in January, which was up from December’s 7.0%. Meanwhile, the trend pointed up, with annual average inflation coming in at 5.2% in January (December: 4.7%). Lastly, core inflation rose to 6.0% in January, from December’s 5.5%.

Commenting on the latest print, Xiao Cui, VP of U.S. economics at Credit Suisse, noted:

“Inflation has accelerated in recent months from an already elevated level. Along with a pickup in shelter inflation, faster wage growth should help support inflation well above 2.0% going forward, even as the temporary shocks to goods prices fade. This should support the Fed’s decision to begin a hiking cycle in March, with risks of more aggressive tightening sooner.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest