US Consumer prices rise 0.5% in January, higher than expected as annual rate rises to 3%

• The CPI accelerated a seasonally adjusted 0.5% for the month, putting the annual inflation rate at 3%, both higher than expected. The core CPI ran at 0.4% and 3.3% respectively, also above forecast.
• Shelter costs continued to be a problem for inflation, rising 0.4% on the month. Food prices jumped 0.4% and energy prices climbed 1.1% as gasoline prices increased 1.8%.
• Markets largely expect the Fed to stay on hold for an extended time and pushed the next rate cut probability out to September following the CPI report.

https://www.cnbc.com/2025/02/12/cpi-january-2025.html