The Consumer Price Index rose 0.3% after having big drops in the past two months. The core rate, excluding energy and food, rose 0.2%. On a year over year basis, inflation still running negative, down 0.2%, something not seen since the mid 1950's.
Here is a breakdown of the inflation benchmark to show you where costs are rising most. For Januray, energy prices turned around and were up 1.74% but are still down 21.1% from one year ago.
- CPI: Up +0.28%
- Ex Food & Energy: Up +.18%
- Food: Up +.05%
- Energy: Up +1.74%
- Housing: Up +.02%
- Apparel: Up +.26%
- Transportation: Up +1.28%
- Medical Care: Up +.44%
- Recreation: Up +.02%
- Education & Communication: Up +.27%
- Other Goods & Svcs: Up +.29%
The small change in the core shows that at least for now, inflation is not the issue. The futures are pointing lower this morning driven by more pressure on the financials. In the pre-market include Bank of America and Citigroup are down over 5% each. General Electric , Alcoa and Home Depot are down over 2%.
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