Inflation & Prices
Inflation Is Stickier Than Previously Thought, NY Fed Study Shows
- Revisions revealed stronger inflation for final months of 2022
- Hot January readings also point to persistent price pressures
Shoppers in the SoHo neighborhood of New York.
Photographer: Jordana Bermudez/BloombergThis article is for subscribers only.
Inflation seems poised to stick around for longer than previously expected, according to new research from the Federal Reserve Bank of New York.
Revisions to US inflation reports released in January showed that price gains in the last three months of 2022 as measured by the personal consumption expenditure price index were stronger and more broad based than previously thought, New York Fed researchers explained in a blog post published Thursday. Those adjustments, combined with data showing that another hot inflation reading for January, point to more persistent price pressures, the researchers said,