US CPI rises 0.3% mom in January, above expectation of 0.2% mom. CPI core (all items less food and energy) rise 0.4% mom, above expectation of 0.3% mom. Index for shelter rose 0.6% mom, contributing over two thirds of the monthly all item increase. Food index rose 0.4% mom while energy index fell -0.9% mom.
For the 12-month period, CPI slowed from 3.4% yoy to 3.1% yoy, above expectation of 2.9% yoy. CPI core was unchanged at 3.9% yoy, above expectation of 3.8% yoy. Energy index fell -4.6% yoy while food index rose 2.6% yoy.
Full US CPI release here.
