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- U.S. consumer prices flat in January
U.S. consumer prices flat in January
The Labor Department announced the U.S. consumer price index (CPI) was flat m-o-m in January 2019 after a 0.1 percent m-o-m drop in December 2018.
Over the last 12 months, the CPI rose 1.6 percent y-o-y last month, following a 1.9 percent m-o-m gain in the 12 months through December. That was the lowest rate since June 2017.
Economists had forecast the CPI to increase 0.1 percent m-o-m and 1.5 percent y-o-y in the 12-month period.
According to the report, the energy index (-3.1 percent m-o-m) decreased for the third consecutive month, offsetting advances in the indexes for all items less food and energy (+0.2 percent m-o-m) and for food (+0.2 percent m-o-m). All the major energy component indexes dropped in January, with the gasoline index declining 5.5 percent m-o-m.
The core CPI excluding volatile food and fuel costs increased 0.2 percent m-o-m in January, the same increase as in the previous month.
In the 12 months through January, the core CPI rose 2.2 percent, the same increase as for the 12 months ending December.
Economists had forecast the core CPI to rise 0.2 percent m-o-m and 2.1 percent y-o-y last month.
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