- Prior was +3.0%
Details:
- Ex autos -0.1% vs -0.1% expected
- Prior ex autos +2.3%
- Control group +0.5% vs -0.3% expected
- Prior control group +1.7%(revised to +2.3%)
- Ex autos and gas 0.0% vs +2.6% prior
- Gasoline stations -0.6% vs +5.7% m/m prior
- Electronics and appliance stores +0.3% vs +3.5% m/m prior
- Furniture stores -2.5% vs +4.4% m/m prior
- Restaurants -2.2% vs +7.2% m/m prior
The January numbers got a boost from good weather and many were expecting some of that to be given back.instead, the control group accelerated further and the January number was revised even higher. This is a real headache for the Fed though if you want an optimistic spin on inflation, the more-sensitive categories like restaurants, furniture and electronics slowed considerably.