Annual inflation hits 6.4 percent in January: CPI

[mystery-ak]

 Annual inflation hits 6.4 percent in January: CPI
by Karl Evers-Hillstrom - 02/14/23 8:31 AM ET

Consumer prices rose 0.5 percent in January and 6.4 percent annually, according to Labor Department’s consumer price index released Tuesday, a jump in inflation which could encourage the Federal Reserve to further raise interest rates.

Core inflation, which excludes volatile food and energy prices, came in at 0.4 percent on a month-to-month basis and 5.6 percent annually.

Annual inflation continues to decline from its high of 9.1 percent in June, a 40-year high.

Still, the pace of monthly price growth accelerated in January from December, when prices rose 0.1 percent.

Food prices rose 0.5 percent in January, while housing costs rose 0.7 percent, making up for the bulk of the increase.

more
https://thehill.com/finance/3856744-annual-inflation-rose-6-4-percent-in-january-cpi/

[mountaineer]

Director of Policy Research for the GOP tweets:

Jacki Kotkiewicz
@jackikotkiewicz
Inflation ⬆️ more than expected.

Overall CPI: +6.4% y/y
Fuel Oil: +27.7%
Electricity: +11.9%
Groceries: +11.3%
Chicken +10.5%
Milk: +11%
Eggs: +70.1%
Bread: +14.9%
Potatoes: +12.4%
Baby Food: +10%
Airline Fares: +25.6%
Real Average Hourly Earnings: -1.8%
8:41 AM · Feb 14, 2023

[DefiantMassRINO]

The only item below 6.4% is Real Average Hourly Earnings?

So, inflation is decreasing because people are getting poorer?

That's the Government's anti-inflation strategy - lay-off as many people as possible so wages decrease?

That sucks.

[catfish1957]

Director of Policy Research for the GOP tweets:

Jacki Kotkiewicz
@jackikotkiewicz
Inflation ⬆️ more than expected.

Overall CPI: +6.4% y/y
Fuel Oil: +27.7%
Electricity: +11.9%
Groceries: +11.3%
Chicken +10.5%
Milk: +11%
Eggs: +70.1%
Bread: +14.9%
Potatoes: +12.4%
Baby Food: +10%
Airline Fares: +25.6%
Real Average Hourly Earnings: -1.8%
8:41 AM · Feb 14, 2023

Thanks for the graphic.  Even Forrest Gump can count digits.  6.4% my ass.