Beneath the Skin of CPI Inflation: Worst Month-to-Month Acceleration of CPI since Aug 2023, on Spikes in Used Vehicles, Non-Housing Services, Food, Energy

Inflation dished out another bad surprise with a big increase in January from December, which wasn’t a surprise because inflation, once it gets going, is known to do that. This time, the hot spots were durable goods, fueled by the continued massive month-to-month increases in used vehicle prices, and non-housing services, such as auto insurance...