US inflation higher or more cyclical at start of year – study
Dallas Fed research says slowing inflation is more encouraging if it takes place in January
The high inflation figures typically reported in January may reflect newly documented behaviour whereby companies raise prices at the start of the year, a study from the Federal Reserve Bank of Dallas argues.
The authors – Tyler Atkinson and Ron Mau – observe disproportionate price rises in both January 2023 and January 2024.
The research was published on February 11. The following day, the US Bureau of Labor Statistics reported that year-on-year consumer price index inflation had reached 3% in
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