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At 8:30 a.m. in New York, the world paused for the January U.S. inflation data, and it landed with a soft thud.
Headline CPI printed +2.4% year over year, a shade under the +2.5% estimate that had been floating around ahead of the release. Core inflation, the version that strips out food and energy, rose 2.5% year over year, right on the expected line.
On the month, prices kept moving at a pace that felt familiar. Headline inflation rose 0.2% in January, and core rose 0.3%, seasonally adjusted. It reads…
