{"id":743,"date":"2023-02-14T09:24:00","date_gmt":"2023-02-14T14:24:00","guid":{"rendered":"https:\/\/embarrdowns.com\/us-inflation-india-retail-inflation-mark-rise-in-january-2023\/"},"modified":"2023-02-14T09:24:00","modified_gmt":"2023-02-14T14:24:00","slug":"us-inflation-india-retail-inflation-mark-rise-in-january-2023","status":"publish","type":"post","link":"https:\/\/embarrdowns.com\/us-inflation-india-retail-inflation-mark-rise-in-january-2023\/","title":{"rendered":"US Inflation & India Retail Inflation Mark Rise in January 2023"},"content":{"rendered":"

On Tuesday, the Labor Department reported that the Consumer Price Index (CPI) \u2013 a closely watched measure of inflation which tracks fluctuations in the costs of everyday goods and services \u2013 rose 6.4% compared to the same month one year ago.[0]<\/a><\/sup> The January reading marked the seventh straight month of cooling in annual inflation since peaking at 9.1% in June, the highest reading since 1981.[1]<\/a><\/sup> Core inflation, which excludes volatile food and energy costs, increased at an annual rate of 5.6%.[2]<\/a><\/sup> Annually, both overall and core inflation rose at their lowest rate since the fourth quarter of 2021.[0]<\/a><\/sup><\/p>\n

The US Federal Reserve (Fed) has aggressively raised borrowing costs from near-zero to a target range of between 4.5% to 4.75% in less than a year, as the central bank aims to bring down soaring prices.[3]<\/a><\/sup> At its last policy meeting, the Fed revealed a minor 25-basis-point rate increase. Nevertheless, Fed chair Jerome Powell cautioned that rates could need to remain higher for an extended period of time due to data exhibiting a strong labor market.[3]<\/a><\/sup><\/p>\n

[4]<\/a><\/sup> Inflation rose by 0.5% month-to-month, ending a three-month period of improvement after the December reading revealed the most significant decrease since April 2020, when the pandemic was at its most disconcerting.[5]<\/a><\/sup><\/p>\n

Meanwhile, India\u2019s retail inflation shot back up to 6.52% in January after a two-month streak below the 6% mark, with consumer food prices hardening again to 5.94% from 4.2% in December 2022. In January, the retail sector in the country experienced an inflation rate of 6.52%, the highest since October 2022 (6.77%).<\/p>\n

The January 2023 Survey of Consumer Expectations conducted by the New York Federal Reserve revealed that the median expected inflation rate for the next twelve months remained at 5%.[6]<\/a><\/sup> In three years, Americans anticipate that inflation will be 2.7%, which is 0.3 percentage points lower than today. Five years into the future, inflation is expected to be 2.5%, a 0.1 percentage point increase.[6]<\/a><\/sup><\/p>\n

The Federal Reserve considers the core rate to be a better indication of future inflation movements.[7]<\/a><\/sup> According to the Bureau of Labor Statistics report, rising shelter costs constituted approximately half of the rise in monthly costs.[8]<\/a><\/sup> [7]<\/a><\/sup><\/p>\n

0. <\/span>“Inflation surged 6.4% in January, higher than expected” New York Post , 14 Feb. 2023, https:\/\/nypost.com\/2023\/02\/14\/inflation-surged-6-4-in-january-higher-than-expected\/<\/a><\/a><\/p>\n

1. <\/span>“January CPI Report Shows Annual Inflation Cooled” The Wall Street Journal, 14 Feb. 2023, https:\/\/www.wsj.com\/articles\/us-inflation-january-2023-consumer-price-index-f080e30b<\/a><\/a><\/p>\n

2. <\/span>“Inflation fell to 6.4% in January, hotter than expected” Washington Examiner, 14 Feb. 2023, https:\/\/www.washingtonexaminer.com\/policy\/economy\/inflation-fell-to-6-4-in-january-hotter-than-expected<\/a><\/a><\/p>\n

3. <\/span>“Monthly U.S. inflation accelerates in January, annual figure 6.4% By Investing.com” Investing.com, 14 Feb. 2023, https:\/\/www.investing.com\/news\/economic-indicators\/monthly-us-inflation-accelerates-in-january-annual-figure-64-3002904<\/a><\/a><\/p>\n

4. <\/span>“CPI Inflation Comes In Hot, Keeping Fed On Guard” Investor’s Business Daily, 14 Feb. 2023, https:\/\/www.investors.com\/news\/economy\/cpi-inflation-comes-in-hot-keeping-fed-on-guard-sp-500<\/a><\/a><\/p>\n

5. <\/span>“Inflation Fell To 6.4% In January\u2014But Is Still Worse Than Economists Expected As Rent, Food And Gas Prices Keep Rising” Forbes, 14 Feb. 2023, https:\/\/www.forbes.com\/sites\/jonathanponciano\/2023\/02\/14\/inflation-spiked-64-in-january-worse-than-economists-expected-as-rent-food-and-gas-prices-keep-rising<\/a><\/a><\/p>\n

6. <\/span>“Live updates: Stocks rise as annual inflation keeps falling” CNN, 14 Feb. 2023, https:\/\/www.cnn.com\/business\/live-news\/stock-market-news-inflation\/index.html<\/a><\/a><\/p>\n

7. <\/span>“CPI shows U.S. inflation still sticky” MarketWatch, 14 Feb. 2023, https:\/\/www.marketwatch.com\/story\/cpi-shows-u-s-inflation-still-sticky-e08c9671<\/a><\/a><\/p>\n

8. <\/span>“Consumer price index January 2023:” CNBC, 14 Feb. 2023, https:\/\/www.cnbc.com\/2023\/02\/14\/consumer-price-index-january-2023-.html<\/a><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

On Tuesday, the Labor Department reported that the Consumer Price Index (CPI) \u2013 a closely watched measure of inflation which tracks fluctuations in the costs of everyday goods and services \u2013 rose 6.4% compared to the same month one year ago.[0]<\/a><\/sup> The January reading marked the seventh straight month of cooling in annual inflation since peaking at 9.1% in June, the highest reading since 1981.[1]<\/a><\/sup> Core inflation, which excludes volatile food and energy costs, increased at an annual rate of 5.6%.[2]<\/a><\/sup> Annually, both overall and core inflation rose at their lowest rate since the fourth quarter of 2021.[0]<\/a><\/sup><\/p>\n

The US Federal Reserve (Fed) has aggressively raised borrowing costs from near-zero to a target range of between 4.5% to 4.75% in less than a year, as the central bank aims to bring down soaring prices.[3]<\/a><\/sup> At its last policy meeting, the Fed revealed a minor 25-basis-point rate increase. Nevertheless, Fed chair Jerome Powell cautioned that rates could need to remain higher for an extended period of time due to data exhibiting a strong labor market.[3]<\/a><\/sup><\/p>\n

[4]<\/a><\/sup> Inflation rose by 0.5% month-to-month, ending a three-month period of improvement after the December reading revealed the most significant decrease since April 2020, when the pandemic was at its most disconcerting.[5]<\/a><\/sup><\/p>\n

Meanwhile, India\u2019s retail inflation shot back up to 6.52% in January after a two-month streak below the 6% mark, with consumer food prices hardening again to 5.94% from 4.2% in December 2022. In January, the retail sector in the country experienced an inflation rate of 6.52%, the highest since October 2022 (6.77%).<\/p>\n

The January 2023 Survey of Consumer Expectations conducted by the New York Federal Reserve revealed that the median expected inflation rate for the next twelve months remained at 5%.[6]<\/a><\/sup> In three years, Americans anticipate that inflation will be 2.7%, which is 0.3 percentage points lower than today. Five years into the future, inflation is expected to be 2.5%, a 0.1 percentage point increase.[6]<\/a><\/sup><\/p>\n

The Federal Reserve considers the core rate to be a better indication of future inflation movements.[7]<\/a><\/sup> According to the Bureau of Labor Statistics report, rising shelter costs constituted approximately half of the rise in monthly costs.[8]<\/a><\/sup> [7]<\/a><\/sup><\/p>\n

0. <\/span>“Inflation surged 6.4% in January, higher than expected” New York Post , 14 Feb. 2023, https:\/\/nypost.com\/2023\/02\/14\/inflation-surged-6-4-in-january-higher-than-expected\/<\/a><\/a><\/p>\n

1. <\/span>“January CPI Report Shows Annual Inflation Cooled” The Wall Street Journal, 14 Feb. 2023, https:\/\/www.wsj.com\/articles\/us-inflation-january-2023-consumer-price-index-f080e30b<\/a><\/a><\/p>\n

2. <\/span>“Inflation fell to 6.4% in January, hotter than expected” Washington Examiner, 14 Feb. 2023, https:\/\/www.washingtonexaminer.com\/policy\/economy\/inflation-fell-to-6-4-in-january-hotter-than-expected<\/a><\/a><\/p>\n

3. <\/span>“Monthly U.S. inflation accelerates in January, annual figure 6.4% By Investing.com” Investing.com, 14 Feb. 2023, https:\/\/www.investing.com\/news\/economic-indicators\/monthly-us-inflation-accelerates-in-january-annual-figure-64-3002904<\/a><\/a><\/p>\n

4. <\/span>“CPI Inflation Comes In Hot, Keeping Fed On Guard” Investor’s Business Daily, 14 Feb. 2023, https:\/\/www.investors.com\/news\/economy\/cpi-inflation-comes-in-hot-keeping-fed-on-guard-sp-500<\/a><\/a><\/p>\n

5. <\/span>“Inflation Fell To 6.4% In January\u2014But Is Still Worse Than Economists Expected As Rent, Food And Gas Prices Keep Rising” Forbes, 14 Feb. 2023, https:\/\/www.forbes.com\/sites\/jonathanponciano\/2023\/02\/14\/inflation-spiked-64-in-january-worse-than-economists-expected-as-rent-food-and-gas-prices-keep-rising<\/a><\/a><\/p>\n

6. <\/span>“Live updates: Stocks rise as annual inflation keeps falling” CNN, 14 Feb. 2023, https:\/\/www.cnn.com\/business\/live-news\/stock-market-news-inflation\/index.html<\/a><\/a><\/p>\n

7. <\/span>“CPI shows U.S. inflation still sticky” MarketWatch, 14 Feb. 2023, https:\/\/www.marketwatch.com\/story\/cpi-shows-u-s-inflation-still-sticky-e08c9671<\/a><\/a><\/p>\n

8. <\/span>“Consumer price index January 2023:” CNBC, 14 Feb. 2023, https:\/\/www.cnbc.com\/2023\/02\/14\/consumer-price-index-january-2023-.html<\/a><\/a><\/p>\n","protected":false},"author":3,"featured_media":742,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"_links":{"self":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/743"}],"collection":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/comments?post=743"}],"version-history":[{"count":0,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/posts\/743\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media\/742"}],"wp:attachment":[{"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/media?parent=743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/categories?post=743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/embarrdowns.com\/wp-json\/wp\/v2\/tags?post=743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}