USA Core CPI (MoM) For January 0.4% Vs 0.3% Est.; 0.3% Prior
Portfolio Pulse from Benzinga Newsdesk
The USA Core Consumer Price Index (CPI) for January increased by 0.4%, surpassing the estimated 0.3% and the previous month's 0.3%. This indicates a higher than expected inflation rate.
February 13, 2024 | 1:30 pm
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The higher than expected Core CPI may lead to concerns about inflation, potentially influencing the Federal Reserve's interest rate decisions, which could impact SPY.
Higher inflation rates typically lead to expectations of increased interest rates, which can negatively affect stock prices, including those within the SPY ETF. The SPY, being a broad market ETF, is sensitive to changes in economic indicators like the CPI.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80