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'This Is Great News on Inflation': Consumer Prices Defy Naysayers, Rise Less than Expected in January"Inflation fell to the lowest level since May and key items such as food, gas and rent are cooling off. This will provide much needed relief for middle class and moderate-income families." -Heather Long, chief economist at Navy Federal Credit Union
Both the overall CPI and its "core" component, which excludes the volatile food and energy sectors, mostly came in either below, or at, analysts' expectations:
The index for shelter rose 0.2% in January and was the largest factor in the all-items monthly increase. The food index increased 0.2% over the month as did the food at home index, while the food away from home index rose 0.1%. These increases were partially offset by the index for energy, which fell 1.5% in January. The energy index decreased 0.1% for the 12 months ending January. The food index increased 2.9% over the last year. The impact of President Trump's tariff policies "has been less than initially feared," providing "relief to those concerned about how sticky price pressures may prove to be," The New York Times reports. "We're just not seeing the pass-along" tariff-fueled cost increases expected, "Maybe, we're past that," according to CNBC: "'This is great news on inflation,' said Heather Long, chief economist at Navy Federal Credit Union. 'Inflation fell to the lowest level since May and key items such as food, gas and rent are cooling off. This will provide much needed relief for middle class and moderate-income families.'" Subscribe for free to Breaking Christian News here
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