ALL - January Inflation Report Alert: Prices Still Rising
2024-02-13 12:00:57 ET
Summary
- Despite higher-than-expected inflation, stock markets remained largely unaffected, with the Dow Jones, Nasdaq, and S&P 500 Indices ignoring the news.
- Inflation for all items increased by 3.4%, with the shelter index accounting for two-thirds of the increase.
- Implications for investors after wage inflation did not keep up with January CPI.
Last Friday, the Bureau of Labor Statistics posted a revision to its annual Consumer Price Index. Despite CPI of 3.3% annualized in Q4/2023 and above the Federal Reserve’s 2.0% inflation target, stock markets moved higher. The Dow Jones Industrials (DJI), Nasdaq ( QQQ ), and S&P 500 ( SP500 ) largely ignored the news. Even the small-cap Russell 2000 ( IWM ) joined the rally, albeit later and ahead of this morning's January 2024 CPI report....
January Inflation Report Alert: Prices Still Rising