US CPI measures how fast consumer prices are rising year-on-year, the key inflation gauge the Federal Reserve watches when setting interest rates.
Actual
3.1%
Forecast
3.1%
Previous
3.4%
Source: U.S. Bureau of Labor Statistics. Figures as released; revisions appear in the next print.
US Inflation Rate (CPI) for January 2024 came in at 3.1% versus 3.1% expected (previous 3.4%), in line with forecast.
What it meant for the US Dollar
The actual landed in line with the 3.1% forecast. A reading above forecast is generally bullish for the USD, and below forecast bearish.
New to this release? See what US Inflation Rate (CPI) measures, the next release and its full history.