Still, that is considerably below where inflation was in 2022 and much of last year.
Along with the health of the labor market, the Fed considers inflation among the key economic data points to watch as it looks to start cutting interest rates this year.
“If inflation comes in below expectation, the markets will cheer the welcome news that the economy and the job market can remain solid without increasing inflation.
On Friday, more inflation data will be released with the January producer price index – a measure of what businesses pay for the products and services they sell.
The PPI is often a predictor of future inflation as it shows prices that are early in the pipeline and often passed on to consumers.
Persons:
”, Skyler Weinand, Regan, Venkat Balakrishnan, Jerome Powell, “, Dan North, “ Powell, Melissa Brown, Signifyd, ” Signifyd
Organizations:
Labor, Federal Reserve, Dow, Industrial, Regan Capital, Fed, Federal Reserve Bank of Atlanta, Allianz Trade, ”, PPI
Locations:
North America