Inflation rose 2.5% over the year in January compared to 2.6% in December, marking the first decrease in four months.
Poll after poll finds that inflation is a top worry for Americans. So the administration should be worried that it's ticking back up.
U.S. consumer spending fell for the first time in nearly two years in January and the goods trade deficit widened to a record high as businesses front-loaded imports to avoid tariffs, setting up the economy for weak growth or even a contraction this quarter.
The US Bureau of Economic Analysis will release the January PCE Price Index at 7:00 PM today, a key inflation gauge that could influence Federal Reserve rate cut expectations. Stay tuned for live updates!
Yes, inflation has hammered households since 2021 and it has been horrific. The CPI ended January 23.4% above December 2019, and that understates many shoppers’ experience — including yours, probably. It’s also true that the end of a military war doesn’t mean the destruction is somehow reversed.
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