Headline Roundup • February 13th, 2024
Inflation Speeds Up in January, Slows Down on Annual Basis
Summary from the AllSides News Team
The year-over-year inflation rate was 3.1% in January, down from 3.4% in December, the Bureau of Labor Statistics reported.
The Details: Prices rose at a monthly rate of 0.3% in January, an acceleration from December’s 0.2% rate. Core inflation, a measure excluding volatile food and energy costs, rose 0.4% in January compared to 0.3% in December.
How the Media Covered It: Depending on whether one looks at the monthly or annual number, the inflation data could be viewed as an increase or a decrease, allowing headlines to paint different pictures. While Fox Business (Lean Right bias) used a different photo with its article, it featured the story on its homepage with a photo of a burning wallet. Some left-rated sources such as CNN Business (Lean Left bias) focused their headlines on how the annual rate fell.
Featured Coverage of this Story
David Zalubowski/AP
Price hikes eased off less than expected in January, but still offered some relief for Americans who have suffered through the steepest price hikes in four decades.
The first measure of inflation for 2024, the Consumer Price Index, showed that prices rose by 3.1% for the 12 months ended in January, according to Bureau of Labor Statistics data released Tuesday. That marks a step back from December’s 3.4% rate and a dramatic cooling from the 6.4% increase seen in January 2023.
On a monthly basis, CPI rose by 0.3% in...
Gabriel Cortes / CNBC
Inflation rose more than expected in January as stubbornly high shelter prices weighed on consumers, the Labor Department reported Tuesday.
The consumer price index, a broad-based measure of the prices shoppers face for goods and services across the economy, increased 0.3% for the month, the Bureau of Labor Statistics reported. On a 12-month basis, that came out to 3.1%, down from 3.4% in December.
Economists surveyed by Dow Jones had been looking for a monthly increase of 0.2% and an annual gain of 2.9%.
Excluding volatile food and energy prices,...
Spencer Platt/Getty Images
Inflation rose more than expected in January thanks to a jump in grocery and housing costs, underscoring the challenge of taming price pressures within the economy.
The Labor Department said Tuesday that the consumer price index, a broad measure of the price of everyday goods including gasoline, groceries and rent, rose 0.3% in January from the previous month. Prices climbed 3.1% from the same time last year.
Both of those figures came in higher than the 0.2% monthly increase and 2.9% headline figure forecast by Refinitiv economists.
Other parts of...
AllSides Picks
More News about Economy and Jobs on AllSides
News from the Left
News from the Center
News from the Right
Fox Business
