January Inflation Report , Misses Slowdown Expectations.
The consumer price data for Jan.
Was released on Feb.
14.
The data shows that consumer prices for the month increased by 6.4 percent.
The number is down by a tenth of a percent from Dec.
However, economists had predicted a slightly steeper inflation slowdown of 6.2 percent.
While analysts generally agree that the peak of inflation has passed, .
... an increase of 6.4 percent for Jan.
Is significantly higher than the two percent preferred by officials at the Federal Reserve.
Fed Chairman Jerome Powell recently signaled that interest rates will remain higher until inflation cools.
Powell stated that he expects the process to take some time.
There has been an expectation that it [inflation] will go away quickly and painlessly — and I don’t think that’s at all guaranteed, Jerome Powell, Fed Chairman, via NBC News.
That’s not the base case, Jerome Powell, Fed Chairman, via NBC News.
The base case for me is that it will take some time, and we’ll have to do more rate increases, , Jerome Powell, Fed Chairman, via NBC News.
... and then we’ll have to look around and see whether we’ve done enough, Jerome Powell, Fed Chairman, via NBC News.
Analysts are expecting continued interest rate hikes.
We now expect a further hike in March, and we’re increasingly leaning towards expecting a final increase in May, Ian Shepherdson, Pantheon Macroeconomics, via NBC News.
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