2024-02-14 06:30:00 ET
Summary
- Headline inflation came in at 3.1% while core CPI came in at 3.9%.
- Seasonality has caused large upside surprises in each of the last three years.
- The January reading was moderately worrisome, but very unlikely to persist.
The January CPI came in much hotter than expected. Does this mean the 2024 rate cuts are off the table? Does it mean inflation is about to flare up again? Let's take a closer look at what's happening here and where inflation (and interest rates) might be headed this year. ...
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Is The June Rate Cut Off The Table?