United States: Inflation inches up in January
February 20, 2014
In January, consumer prices increased 0.1% over the previous month in seasonally-adjusted terms, which was slightly down from the 0.2% rise registered in December. The result, which matched market expectations, reflects that higher prices for energy utilities were partially offset by lower prices for gasoline.
Annual inflation inched up from 1.5% in December to 1.6% in January, marking the highest point in six months. The monthly core inflation index, which excludes food and energy prices?, held at December's 0.1%, which matched market expectations. Annual core inflation was 1.6% in January (December: 1.7%), while annual average core inflation came in at 1.7% (December: 1.8%).
FocusEconomics Consensus Forecast participants expect inflation to average 1.7% in 2014, which is down 0.2 percentage points from last month's forecast. For 2015, the panel expects average inflation to rise to 2.1%.
Author: Carl Kelly, Economist