By Tom Burnett CFA
On February 14, 2023, the Bureau of Labor Statistics released its monthly consumer price index report for January. The Index rose by 0.5% in January, following increases of 0.2% in November and 0.1% in December. Over the past 12 months, the Index rose by 6.4%, the smallest 12-month increase over the past 15 months. By comparison, the 12-month increase in June 2022 was 9.1%.
The Core Index, excluding food and energy, rose 0.4% in January. Over the past 12 months, the Core Index increased 5.6%, the smallest increase in the 12-month figure since December 2021. The Energy Index rose by 8.7% in the 12-month period, while the Food Index increased 10.1% over the past year.
The next CPI report will be issued on March 14, 2023.
Tom Burnett CFA is Director of Research