US Core CPI Rises in January on Firmer Services Costs

Core Inflation Data - The Consumer Price Index (CPI) headline rose by 0.2%, resulting in an annual rate of 2.4%, down from 2.7% in December [1] - Core CPI increased by 0.3%, which is higher than the January figure of 0.2%, but aligns with market forecasts, showing a year-over-year increase of 2.5%, down from 2.6% in December [2] Food and Energy Prices - Food prices rose by 0.2% during the month, a significant decrease from the 0.7% increase observed in December [3] - Gasoline prices decreased by 3.2%, contributing to the softer CPI numbers, while used car prices fell by 1.8% [3] - New car prices saw a slight increase of 0.1%, and apparel prices remained unchanged with a 0.3% increase, similar to the previous month [3]