Inflation slowed in January

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% on a seasonally adjusted basis in January, the U.S. Bureau of Labor Statistics reported Friday. 

“Inflation slowed in January, beating expectations. Prices increased 2.4% year over year, a reading historically consistent with the Federal Reserve's 2% target for its preferred inflation measure. Muted price growth in the coming months, despite solid economic growth would clarify the path for rate cuts,” said America's Credit Unions Senior Economist Dawit Kebede. “Markets raised the probability of a third rate cut this year following the release. Credit unions offer affordable loans to members under all monetary policy conditions.”