US inflation slowed more than expected in January. According to data released by the Bureau of Labor Statistics, the Consumer Price Index (CPI) rose by 0.2% month over month, for a 2.4% increase year over year. Economists surveyed by Dow Jones had expected a 0.3% monthly rise and a 2.5% annual increase.
The core index, which excludes the more volatile components of energy and food, recorded a 0.3% monthly increase and a 2.5% annual rise, in line with expectations.
The data provide some relief for markets, recently shaken by turbulence linked to the artificial intelligence sector, and offset the strong employment report released in recent days. However, inflation remains above the US central bank’s target, leaving short-term expectations for the path of monetary policy largely unchanged.
Andrea Pelucchi