On Tuesday, the Labor Department reported that inflation increased in 2023 as rising shelter, gas and fuel prices took their toll on consumers.
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.5 percent in January on a seasonally adjusted basis after increasing 0.1 percent in December, the U.S. Bureau of Labor Statistics reported. Over the last 12 months, the all-items index rose 6.4 percent before seasonal adjustment.
The index for shelter was the largest contributor, accounting for nearly half of the monthly all-items increase, along with indexes for food, gasoline, and natural gas also contributing. The food index and the energy index increased by 0.5 percent and 2.0 percent respectively over the month.
The all-items less food and energy index rose 5.6 percent over the last 12 months, its smallest 12-month increase since December 2021. The energy index increased 8.7 percent for the 12 months ending January, and the food index increased 10.1 percent over the last year.
The index for all items less food and energy, which is CORE CPI rose 0.4 percent in January. Categories that increased include shelter, motor vehicle insurance, recreation, apparel, household furnishings and operations indexes. The shelter index increased to 0.7 percent. The rent index and the owners' equivalent rent index rose 0.7 percent since December, while the index for lodging away from home increased by 1.2 percent since January.
CPI, Core CPI, Retail Sales, Bond Yields, US January CPI Recap, US Consumer Sentiment Recap, Looking Ahead
Crude, Short Term Fundamentals, Bullish Catalysts, Bearish Catalysts, Natural Gas, Gasoline, Gold, Copper
ETH, BTC, ETH/BTC, DXY, SPY, TSLA
MENTAL HEALTH: Overtrading II: Avoid “Revenge Trading” And Take A Step Back
RECIPE: Authentic Italian Carbonara Wine: Pair With A Red Negroamaro Of Your Choice
Current Portfolio Allocation