Market Updates
CPI in January Rises
123jump.com Staff
20 Feb, 2009
New York City
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Consumer price index showed a mild rebound in January after dropping in December. The rebound, unexpected is not likely to persist in the rest of months in the first quarter but inflation may be on the rise in the longer term. The reckless spending in Washington may raise the inflation curve.
[R]10:30AM New York – Consumer price inflation index rebounded in January after dropping in December.[/R]
The consumer price index in January rose 0.3% from a declined of 0.8% in December according to the latest data from the U.S. department of labor. The core rate of inflation that excludes food and energy prices rose 0.2%, at the upper end of the rage targeted by the Fed.
Rents and food prices which account for 40% and 20% of the index respectively rose 0.3% and 0.1% respectively.
The price index was unchanged from a year ago and core rate of inflation rose 1.7% in the period. The measured inflation is subdued as energy price has declined in the recent months but large economic stimulus and reckless government spending is likely to rekindle inflation in 2010 and after.
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