Core

2024

Impact

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<p class="has-drop-cap">The latest Consumer Price Index (CPI) <a href="https://www.bls.gov/news.release/cpi.toc.htm" target="_blank" aria-label="report (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">report</a> showed inflation continuing to persist in January, with the headline CPI rising 0.3% month-over-month. The increase was driven by shelter, food, and core inflation, while energy prices declined. Overall inflation moderated on an annual basis to 3.1% but remained elevated. Markets had a <a href="https://tokenist.com/investing/how-does-inflation-affect-stocks/" rel="noopener noreferrer nofollow" class="deco-link">mixed reaction</a> to the hotter-than-expected inflation data.</p>
<h3 id="cpi-up-0-3-monthly-in-january-2024">CPI Up 0.3% Monthly in January 2024</h3>
<p>The Consumer Price Index (CPI) increased 0.3% in January 2024, building on a 0.2% rise in December. Over the past year, prices climbed 3.1% before seasonal adjustments, slowing from December’s 3.4% growth. <br><br>The shelter index saw a substantial 0.6% increase in January, accounting for over two-thirds of the monthly rise. Both food at home and food away from home indexes also grew 0.4% and 0.5%. However, the energy index fell 0.9% as gasoline prices declined. <br><br>Core CPI, excluding food and energy, rose 0.4% with price hikes in shelter, insurance, and medical care. On an annual basis, core inflation remained steady at 3.9%, matching the prior period. While the food index has increased 2.6% over the past 12 months, the energy index decreased 4.6%.</p>
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<h3 id="immediate-market-impact">Immediate Market Impact</h3>
<p>The latest Consumer Price Index (CPI) data release showing a 0.3% monthly increase had mixed impacts across markets this morning. Stocks were changed little, with the Dow up slightly, the NASDAQ down modestly, and the <a href="https://tokenist.com/investing/spx-vs-spy/" rel="noopener noreferrer nofollow" class="deco-link">S&amp;P</a> nearly flat. Meanwhile, gold and the dollar weakened, oil and <a href="https://tokenist.com/investing/how-to-buy-bonds/" rel="noopener noreferrer nofollow" class="deco-link">bond yields</a> rose, and significant currencies like the Euro declined versus the dollar.</p>
<p>In commodities, energy prices were mostly higher following the CPI report, with oil up while natural gas fell. Precious metals weakened with lower gold and silver prices. Wheat, soybeans, and corn gained.</p>
<p>The inflation data pushed <a href="https://tokenist.com/investing/fixed-income-trading/" rel="noopener noreferrer nofollow" class="deco-link">Treasury yields</a> higher across the curve, though shorter-dated yields rose more significantly. The US 10-year yield climbed over 10 basis points.</p>
<p>Overall, the higher-than-expected CPI print signaling persistent inflation led to a modest risk-off tone in markets. The dollar strengthened while stocks could not sustain much upside, and gold declined. Commodities were mixed with energy outperforming but precious metals dropping.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><strong><em>Do you think inflation will be an issue for the US economy for the rest of the year? Let us know in the comments</em></strong> <strong><em>below</em>.</strong></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/januarys-cpi-print-shows-a-0-3-increase-as-inflation-persists/">January’s CPI Print Shows a 0.3% Increase as Inflation Persists</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

January’s CPI Print Shows a 0.3% Increase as Inflation Persists

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