Consumer Price Index:Historical Releases/2023 January: Difference between revisions

Consumer Price Index:Historical Releases/2023 January (view source)

40 bytes added , 13 February 2023

3,882

edits

@@ Line 4: / Line 4: @@
 January 2023 inflation forecasts are expecting a continuing decline in inflation Y/Y to 6.2%, this is mostly in line short term drivers' trends. However, there are 2 points to remain cautious tomorrow:
-* There will be a change in methodology, which could create a big miss tomorrow: "Starting with January 2023 data, the BLS plans to update weights annually for the Consumer Price Index based on a single calendar year of data, using consumer expenditure data from 2021. This reflects a change from prior practice of updating weights biennially using two years of expenditure data."<ref>https://www.bls.gov/cpi/</ref>
+* There will be a change in methodology, which could create a big miss tomorrow if forecast did not correctly account it: "Starting with January 2023 data, the BLS plans to update weights annually for the Consumer Price Index based on a single calendar year of data, using consumer expenditure data from 2021. This reflects a change from prior practice of updating weights biennially using two years of expenditure data."<ref>https://www.bls.gov/cpi/</ref>
 * January 2023 saw a small acceleration in used car prices, energy/gasoline, and stabilization in housing, this could offset some of the disinflationary trends in goods and the small decline in wages.