US CPI rose 0.5% mom in January while CPI core rose 0.4% mom. Both matched expectations. Food index rose 0.5% mom while energy index rose 2.0% mom.
Over the last 12 months, CPI slowed from 6.5% yoy to 6.4% yoy, above expectation of 6.2% yoy. That’s nonetheless the lowest reading since October 2021. CPI core slowed from 5.7% yoy to 5.6% yoy, above expectation of 5.5% yoy, but was the lowest since December 2021. Energy index rose 8.7% yoy while food index rose 10.1% yoy.