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Economic Indicators
11 Feb 2022
U.S. Inflation Charges Higher With Larger-Than-Forecast Gain
The Index Today
Recent data release shows that the consumer price index climbed 7.5% from a year earlier following a 7% annual gain in December, according to Labor Department data released Thursday. The widely followed inflation gauge rose 0.6% in January from a month earlier, reflecting broad increases that included higher food, electricity and housing costs.
Excluding the volatile food and energy components, so-called core prices increased 6% from a year ago, also the most since 1982, and 0.6% from a month earlier.
U.S. Treasury yields are higher, while the dollar and S&P 500 are weaker. The median forecasts in a Bloomberg survey of economists called for a 7.3% year-over-year increase in the CPI and 0.4% gain from a month earlier. Economists have underestimated the monthly change in the CPI in eight of the last 10 months.
