FX.co ★ US Core CPI Rises as Expected

In January 2026, US core consumer prices—excluding food and energy—rose 0.3% from the previous month, up from a 0.2% increase in December and matching market expectations. This was the largest monthly gain since August 2025, with two intervening reports delayed due to the federal government shutdown. The acceleration was driven largely by transportation services, where prices jumped 1.4% compared with a 0.4% rise in December. By contrast, inflation eased for shelter, with prices up 0.2% after a 0.4% increase previously, while deflation deepened for used cars and trucks, which fell 1.8% following a 0.9% decline in December.