Market Updates
Consumer Price Inflation In January Eased to 3.1%, Shelter Inflation Stayed Elevated
Brian Turner
13 Feb, 2024
New York City
Consumer price inflation in January eased to a 3.1% annual pace in January from 3.4% in December, the U.S. Bureau of Labor Statistics reported Tuesday.
The decline in overall inflation was driven by the fall in energy price inflation by 4.6% from 2.0% in December, and food prices rose at a slower pace of 2.6% compared to 2.7% in the previous month.
Compared to the previous month, consumer price inflation rose by 0.3%, the fastest pace of increase in four months.
Core inflation, which excludes food and energy price inflation, held steady at an annual pace of 3.9% but rose to a monthly rate of 0.4%.
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