Midwest refinery outage is affecting petroleum product markets

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent in January on a seasonally adjusted basis, after rising 0.2 percent in December, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 3.1 percent before seasonal adjustment. The index for shelter continued to rise in January, increasing 0.6 percent and contributing over two thirds of the monthly all items increase. The food index increased 0.4 percent in January, as the food at home index increased 0.4 percent and the food away from home index rose 0.5 percent over the month. In contrast, the energy index fell 0.9 percent over the month due in large part to the decline in the gasoline index. The index for all items less food and energy rose 0.4 percent in January. Indexes which increased in January include shelter, motor vehicle insurance, and medical care. The index for used cars and trucks and the index for apparel were among those that decreased over the month. The all items index rose 3.1 percent for the 1Inflation: Consumer prices rise 3.1% in January, defying forecasts for a faster slowdown US consumer prices rose higher than expected in January, according to the latest data from the Bureau of Labor Statistics released Tuesday morning. The Consumer Price Index (CPI) rose 0.3% over last month and 3.1% over the prior year in January, slightly higher than December's 0.2% month-over-month increase but a deceleration from December's 3.4% annual gain. Both measures were slightly higher compared to economist forecasts of a 0.2% month-over-month increase and a 2.9% annual increase, according to data from Bloomberg. On a "core" basis, which strips out the more volatile costs of food and gas, prices in June climbed 0.4% over the prior month and 3.9% over last year — a slight acceleration from December's monthly increase but matching the prior month's annual increase, according to Bloomberg data. post: US JANUARY CPI BREAKDOWN pic.twitter.com/VSBUM8ttde post: FED SWAPS SHIFT FULL PRICING OF RATE CUT TO JULY FROM JUNE