Consumer Price Index (CPI) for January 2024

Earlier this morning, the Labor Department's Bureau of Labor Statistics released the Consumer Price Index (CPI) for January 2024:

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CPI During January 2024: 308.417

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Consumer Price Index, Headline

Predicted: +0.3%
Actual: +0.545% (+1.671 points)

• Change From 12 Months Ago: +3.09% (+9.247 points)
  

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Consumer Price Index, Minus Food + Energy (Core CPI)

Predicted: +0.3%
Actual: +0.55% (+1.716 point)

Change From 12 Months Ago: +3.86% (+11.661 points)

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The above, yellow-highlighted figures represent month-to-month change (not seasonally adjusted) in prices for a specific group of goods and services that consumers buy, and is, therefore, a very important part of the overall inflation picture for the country.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

General categories that constitute the CPI are:

• Healthcare
• Housing
• Clothing
• Communications
• Education
• Transportation
• Food and Beverages
• Recreation
• Miscellaneous Goods and Services (grooming expenses, etc.)

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CPI During January 2023: 299.170

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 CHART: Consumer Price Index
12-Month Percentage Change
January 2024 Update

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• Click here to view the full Labor Department report.
  

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