QQQ - January CPI: Inflation Fell But Tracked Ahead Of Expectations

2024-02-13 10:00:58 ET

Summary

• Overall consumer prices were up 3.1% in January from a year earlier, a lower pace of growth than last month but still higher than expected.
• Core prices also remained tame in January, up 3.9%.
• Falling inflation in categories such as gasoline likely has contributed to the recent uptick in consumer sentiment.
• Federal Reserve Chairman Jerome Powell recently stated that greater confidence is needed on falling inflation before a policy pivot.
• Greater confidence is unlikely to be realized until key components begin to measurably decline, namely shelter costs.

Prices continued to rise in January, but at a more moderate pace than at the same point last year. A higher than expected reading, however, unnerved markets in the early morning trading hours....

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