CPI Data Fore Cast 14 February 2023
What to watch for in January 2023 consumer price inflation
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Markets and the US Federal Reserve have previously been unresponsive to upcoming rate hikes. Over the past week, the market has shifted to his Fed view, with rate hikes expected in March and possibly his in May as well. This may have been partly due to strong January employment numbers reducing the likelihood of a recession, but it may also reflect concerns over January's consumer price index (CPI) data. I have. The report may not be as optimistic as some would like.
Consumer Price Index announced
February 14, 8:00 AM:
At 30:00 PM ET, the CPI figures for January 2023 are displayed.
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trend of the moment
To be clear, recent inflation data are broadly encouraging. Inflation has tended to moderate due to lower energy and food costs, and used car and sundry prices have actually fallen in absolute terms in recent months.
The Fed is also beginning to recognize these promising trends. However, concerns remain, especially as housing costs continue to rise, a major weight in the CPI series. There are good reasons to think that might change, but it's not showing up in the CPI data yet. The Fed is also concerned that wage growth will continue to push up service costs, and the recent strong jobs data does not reassure him on that front.
i'm looking forward to
Coming inflation data could be a little more reassuring: Certain energy prices like crude oil are no longer falling. Recent reports show that food and energy have contributed to lower inflation rates.
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