January consumer price index data

  • Prior was +0.2% (unrevised)
  • Ex food and energy +0.3% m/m vs +0.2% exp (was +0.349% unrounded)
  • Prior ex food and energy +0.2% (unrevised)
  • CPI +2.1% y/y vs +1.9% y/y exp
  • Ex food and energy +1.8% vs +1.7% exp
  • Real avg weekly earnings +0.4% vs +0.9% prior
  • Real avg hourly earnings +0.8% vs +0.6% prior

High readings right across the board and the US dollar jumped despite a dismal retail sales print. S&P 500 crashed more than 40 points on the headlines.

It will be interesting to see if one-off items were a driver. Zerohedge notes that "the index for motor vehicle insurance continued to rise in January, increasing 1.3 percent, its largest 1-month increase since November 2001."

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