January CPI: Still A Long Way from Mission Accomplished

Source: Economics Group of Wells Fargo Bank, N.A.Summary Inflation is not going away quietly. Consumer prices increased 0.5% in January, the biggest monthly move since October. Firmer food inflation and a rebound in energy prices helped boost the headline number. Excluding food and energy, the core CPI increased 0.4% amid a slight pickup in core goods and a solid 0.5% rise in core services prices. Over the past three months, the core CPI rose at a 4.6% annualized pace, an acceleration from the 4.3% run-rate seen over the three-month period ending in December and notably stronger than the 3.1% pace that was originally reported with the December CPI report. READ FULL ARTICLE>>