Highlights of the January consumer price index:
- Prior reading was 1.5% y/y
- Core CPI 1.6% y/y vs 1.6% expected
- Core and headline CPI rose 0.1% m/m, as expected
- Prior m/m CPI revised to +0.2% from +0.3%
The y/y rise in core CPI is the lowest in nearly three years.
CPI core y/y
Meanwhile, headline inflation is trending modestly higher but the 0.1% m/m rise will contribute to moderating prices.
CPI headline y/y
