US CPI YoY Feb - Home prices drag on inflation
2024-03-12
Summary:
US January inflation was up 3.1%, down from 3.4% prior. High shelter costs burden consumers. Economists expected a 2.9% rise.
US CPI YoY Feb, 12/3/2023 (Tue)
Previous: 3.1% Forecast: 3.1%
inflation in the US increased 3.1% in January, down from 3.4% in the previous month, as stubbornly high shelter prices weighed on consumers. Economists had forecast an annual gain of 2.9%.
The increase in prices was the largest in four months. On a "core" basis, which strips out the more volatile costs of food and energy, prices climbed 3.9% over last year.
Noteworthily, annual inflation has remained above the 2% target. But the Fed's preferred inflation gauge, the core PCE price index, has come in below that rate on a six-month annualized basis.
Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
NFP - The hourly wage growth meets expectations
Nonfarm payrolls rose by 303,000 in March, surpassing expectations of 200,000 and February's revised 270,000 gain, per the BLS.
2024-05-03
Gold Prices Hold Steady Due to Fed Caution
Gold prices stayed near $2,300 on Friday as Fed Chair Powell said a rate hike is unlikely. This dampened demand for the safe-haven asset.
2024-05-03
Oil prices pick up as US SPR is to be refilled
Oil prices rose Thursday as the US may buy for SPR. Prices had fallen on hopes for an Israel-Gaza ceasefire and high oil inventories.
2024-05-02
