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Key Fed Inflation Jumped 0.6% in January, More Than Expected

Key Fed Inflation Jumped 0.6% in January, More Than Expected

View Source | February 24, 2023 8:45 am

  • Markets crashing after report today.
  • A measure the Federal Reserve watches closely to gauge inflation rose more than expected in January, indicating the central bank has more work to do to bring down prices.
  • The personal consumption expenditures price index excluding food and energy increased 0.6% for the month, and was up 4.7% from a year ago, the Commerce Department reported Friday. Wall Street had been expecting respective readings of 0.5% and 4.4%.
  • Including the volatile food and energy components, headline inflation increased 0.6% and 5.4% respectively.
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