(0) The CPI inflation number for January was flat, which was a bit less than the slight increase of +0.1% expected. However, the core inflation number—which excludes more volatile food and energy prices—gained +0.3% as opposed to an expected +0.2%. The difference was mainly due to an energy price decline in the headline figure, as well as marginal gains in apparel, tuition/child care and tobacco in the core number. Year-over-year, the headline inflation number was up +1.6% and core +1.9%. Similarly, the Producer Price Index for January rose +0.2% which was a tick below the expected +0.3% increase (and a year-over-year result of +1.4%). The core number rose by an identical amount, in line with expectations. Read more