Core CPI Rises 32nd Straight Month, Headline Inflation Hotter Than Expected YoY Driven By Lagging Shelter
And so, after rising 0.1% MoM last month (up from the initial -0.1% print), consensus was for a reaccleration to +0.5% MoM in January and that is what it printed, prompting a hotter than expected +6.4% YoY CPI print (+6.2% exp)...
Finally, the rise in Americans’ cost of living outpaced their income gains for the 22nd month in a row (down 1.5% YoY)...
Food up 10.1% yoy, although it seems for me it’s much higher. This reportdoes not look like anything Joe said in his SOTU.
I wonder how long it is going to take before we won’t care how much the cost of food has risen because there won’t be any food to eat.