• 15/04/2024 16:56

US inflation slowed to 3.1% in January

Consumer prices (CPI) in the United States rose by 3.1% year-on-year in January, the country's Department of Labor reported.

US inflation slowed to 3.1% in January

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How prices have changed

Inflation has slowed down compared to 3.4% in December.

The consensus forecast provided by Trading Economics was for inflation to weaken to 2.9%.

Energy prices in the United States fell by 4.6% last month in annual terms after a decline of 2% in December. Including gasoline fell in price by 6.4%.

The rate of growth in the cost of food slowed to 2.6% from 2.7%, new cars – to 0.7% from 1%, clothing – to 0.1% from 1%, medical supplies – up to 3% from 4.7%, transport services – up to 9.5% from 9.7%.

Read: BlackRock predicts higher inflation in the US than regulators expect

The CPI index in January increased by 0.3% compared to the previous month after increasing by 0.2% in December. January growth rates were the highest in 4 months.

Consumer prices excluding the cost of food and energy (Core CPI index) last month increased by 0.4% month-on-month and by 3.9% year-on-year. .


In December, the increase was 0.3% and 3.9%, respectively. Analysts on average predicted an increase in the Core CPI index by 0.3% relative to December and by 3.7% in annual terms.

The Federal Reserve is closely monitoring data on the growth rate of consumer prices in the country, which is one one of the key factors in making decisions regarding monetary policy. The US Central Bank's inflation target is 2%.


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