In January, the Consumer Price Index for All Urban Consumers rose 0.2 percent, seasonally adjusted, and rose 2.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.3 percent in January (SA); up 2.5 percent over the year (NSA).
While inflation moderated it is still higher than the Fed’s target of 2.0%.
The Cleveland Fed’s Inflation Nowcast for 1Q2026 hasn’t declined over the past month.
Fill in the empty box with 2.40 for 2025:Q4 that just came out today.
Coupled with the strong employment report that came out earlier in the week the Federal Reserve is likely to hold the fed funds rate constant at their next meeting.
Wendy