Inflation falls to over one-year low in January
Inflation came in at 6.4% in January, down from December’s 6.5%. January’s reading marked the weakest inflation rate since October 2021, but was above market expectations of 6.2%. Slower food and transport inflation was partly offset by faster price rises for housing and energy.
Annual average inflation fell to 7.9% in January (December: 8.0%). Meanwhile, core inflation edged down to 5.6% in January, from the previous month’s 5.7%.
Lastly, consumer prices rose 0.52% over the previous month in January, picking up from December’s 0.13% increase. January’s uptick was the highest reading since June 2022.
United States Inflation (Core, ann. var. %, aop) Data
| 2017 | 2018 | 2019 | 2020 | 2021 | |
|---|---|---|---|---|---|
| Inflation (Core, ann. var. %, aop) | 1.8 | 2.1 | 2.2 | 1.7 | 3.6 |