Economic Update - 1.13.23
Economic Update - 1.13.23

Featured topics:

  1. CPI Inflation
  2. Inflation Expectations
  3. U-Haul Moving Data
  4. ATTOM 2023 State of Real Estate Investing
  5. New Trends In Industrial Real Estate
  6. SFIB Small Business Survey
  7. Logistics Managers Index
  8. FY 2023 Appropriations Bill
  9. World Bank 2023 Global Growth Forecast
  10. December Jobs Report


• The Consumer Price Index (CPI) rose 6.5% year-over-year and just 0.1% month-over-month, according to the latest numbers from the Bureau of Labor Statistics — relatively in line with most industry estimates. The annual inflation rate has now fallen for six consecutive months.

• Core CPI, which removes food and energy prices from the calculation and is more closely tied to monetary policy decisions, rose 5.7% over the past 12 months and 0.3% between November and December.

• Gasoline led all price declines, dropping -9.4% month-over-month and -1.5% year-over-year. Used cars and trucks also saw significant cooling, falling -2.5% month-over-month and -8.8% year-over-year.

• Food and shelter costs continue to rise, with the former appearing to decelerate from 2022 price pressures. The food index has risen 10.4% year-over-year, but after reaching a 1.1% monthly increase in July 2022, food costs inflation has steadily slowed, registering a 0.3% increase in December.

• Stocks rose following the news, as markets hope these data signal a peaking of US inflation and a potential upcoming slowdown in the Fed’s interest rate hikes.