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January CPI preview: Inflation likely rose 0.5% in 2023's first month

'Inflation is projected to have risen in the first month of the year, defying optimism from investors and officials over a steady move lower seen in recent readings. While the monthly CPI figure likely rose in January, the annual headline number is projected to come down to 6.2% from 6.5% the prior month, according to consensus estimates compiled by Bloomberg. The Bureau of Labor Statistics' January Consumer Price Index (CPI) is scheduled for release at 8:30 a.m. ET on Tuesday. ...'

Reference: yahoo.com
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BIDEN ADMIN ALTERS CPI Weight Update Starting With January 2023: 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.

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