Yeah, that inflation number was upside of the high they were anticipating, so that’s not good.
And the glower and gloom are back since they don’t have to pretend anymore.
Inflation jumped in January on the back of higher prices for consumer staples like groceries and energy. Economists worry inflation has become entrenched above the Federal Reserve’s target, even as President Donald Trump’s policies around tariffs and immigration threaten to exacerbate it.
The consumer price index, an inflation gauge, rose 3% for the 12 months ended in January, the U.S. Bureau of Labor Statistics reported Wednesday.
The January reading is up from 2.9% in December. It marks the fourth consecutive month of increases in the annual inflation rate, when it was at 2.4% in September.
“It feels like everything that could go wrong in this report did go wrong,” said Mark Zandi,…
