The consumer price index in January is forecast to see the largest increase in three months, according to economists polled by The Wall Street Journal.
A tsunami of inflation crested in the U.S. last summer and has ebbed in recent months, but the Federal Reserve is still worried about prices getting stuck at high levels.The forecast The consumer price index is forecast to climb 0.4% in January, according to economists polled by The Wall Street Journal. It would be the largest increase in three months, abetted by higher gas prices and persistent food inflation.
The upward revision in December has contributed “to growing doubts that the recent deceleration in inflation will persist,” said chief economist Richard Moody of Regions Financial. ‘Core’ prices The Fed and investors pay closer attention to the increase in consumer prices minus food and gas since it’s viewed as a better predictor of future inflation trends.The yearly rate of core inflation is seen slowing to 5.4% from 5.7% in the prior month.
The Fed is monitoring a category that’s become known to Wall Street economists as “supercore” inflation — service inflation minus energy and housing. Don’t look for the number in the CPI report, however. It doesn’t exist. The Fed does its own calculations, as do Wall Street economists. MarketWatch will publish the number in our own CPI report.
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