"The Personal Consumption Expenditure Index fell indicates that prices in January had risen by 2.5 percent over the previous 12-months, a decrease from 2.6 percent in December."
"The core CPE Index, the Fed's favored gauge of inflation, fell to a seven month low in January, hitting 2.6 percent. This matched the forecasted inflation rate of 2.6 in January."
Inflation in the U.S. showed signs of slowing in January, reaching its lowest point since summer 2022 at 2.5%, still above the Federal Reserve's 2% target. The core Personal Consumption Expenditure Index, which the Fed closely monitors, marked a seven-month low at 2.6%. Alongside these developments, the personal savings rate also increased to 4.6%, the highest since June 2022. Despite these improvements, the Fed projects that inflation will not dip to its target level until at least 2027, indicating a prolonged period of elevated inflation expectations.
Read at The American Conservative
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