January CPI Report Live: Consumer Price Inflation Report Is Out, Here’s What It Shows
Originally Posted: 2/14/2023 8:30 AM ET
Updated: 2/14/2023 8:38 AM ETClick Here To Watch TTG Live On YouTube
Whether you’re trading penny stocks or large-cap stocks, the highlight of this week is the January CPI inflation data. We’re going to break down the most important things to know about January’s Consumer Price Index report. We also discuss some of the basics of CPI, what it is, and why it’s important. That will come in particularly handy if you’re new to stock market economic data in 2023.
Last CPI Report Recap: Consumer Price Index Report For December 2022 & CPI Numbers
The December CPI inflation report came in line with estimates for both Core and overall CPI. It also extended the year’s declining CPI figures by another month and brought brief optimism to investors. Here’s a recap of the December CPI inflation data:
The Consumer Price Index for All Urban Consumers (CPI-U) declined 0.1 percent in December on a seasonally adjusted basis, after increasing 0.1 percent in November, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 6.5 percent before seasonal adjustment.
Gasoline & Energy
The index for gasoline was by far the largest contributor to the monthly all items decrease, more than offsetting increases in shelter indexes. The food index increased 0.3 percent over the month with the food at home index rising 0.2 percent. The energy index decreased 4.5 percent over the month as the gasoline index declined; other major energy component indexes increased over the month.
All Items Less Food
The index for all items less food and energy rose 0.3 percent in December, after rising 0.2 percent in November. Indexes which increased in December include the shelter, household furnishings and operations, motor vehicle insurance, recreation, and apparel indexes. The indexes for used cars and trucks, and airline fares were among those that decreased over the month.
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All Items
The all items index increased 6.5 percent for the 12 months ending December; this was the smallest 12-month increase since the period ending October 2021. The all items less food and energy index rose 5.7 percent over the last 12 months. The energy index increased 7.3 percent for the 12 months ending December, and the food index increased 10.4 percent over the last year; all of these increases were smaller than for the 12-month period ending November.