Economists expect the Labor Department's consumer price index report due out Tuesday to support Federal Reserve Chair Jerome Powell's assessment that U.S. inflation is easing.
, the core consumer price index is anticipated to rise 0.4% in January, slightly above December’s 0.3% increase. Annually, core CPI is forecast to rise 5.5% in January, the lowest in 13 months and down from 5.7% the prior month.
It would also mark the fourth month of slower growth from September’s 6.6% increase, which was the highest in 40 years.Powell has previously acknowledged that disinflation has begun, but the Fed chairman also says there is still a long way to go to reach the central bank’s desired 2.0% inflation rate.
The markets initially welcomed this message, sending risk assets like stocks higher. But recent concerns that the Fed will keep rates higher for longer has investors worried about a policy mistake.
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