Inflation & Prices

Inflation Digs In to Start 2023, Pointing to Longer Fed Fight

Prices climb most in three months; annual rate above forecast
Bond yields climb as traders step up bets on Fed rate hikes

The overall US consumer price index rose 0.5% in January, up 6.4% from a year earlier. Mike McKee has the numbers on “Bloomberg Surveillance.”Source: Bloomberg

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By Reade Pickert

February 14, 2023 at 4:41 PM UTC

This article is for subscribers only.

US inflation doesn’t look like it’s going away anytime soon.

Consumer prices rose 0.5% in January, the most in three months, and the annual inflation rate came in at a higher-than-expected 6.4%. In some key categories, from energy to various goods such as clothing, the slowdown in costs that was a feature of the final months of 2022 looks to have stalled out – or even reversed.