$CPI JANUARY 2024 DATA:
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1. The CPI comes in HOT, much to Fed Chair Powell's dismay.
2. US CPI inflation increased by 0.3% for the month, above estimates of a 0.2% gain.
3. The headline CPI grew 3.1% year over year, down from 3.4% in December but still much higher than the 2.9% forecast.
As expected, the U.S. core CPI increased by 0.4% month over month.
5. The headline core CPI increased by 3.9% year over year, which was less than expected at 3.7%. This increase was also matched in December.
