by Ryan McMaken
Mises.org
According to the Bureau of Labor Statistics’ latest price inflation data, CPI inflation in January accelerated, and price inflation hasn’t proven nearly as transitory as the regime’s economists have long predicted.
According to the BLS, Consumer Price Index (CPI) inflation rose 3.1 percent year over year during January, after seasonal adjustment. That’s the thirty-fifth month in a row of inflation well above the Fed’s arbitrary 2 percent inflation target.
Month-over-month inflation accelerated, with the CPI rising 0.3 percent from December to January. Month-to-month growth had been 0.2 percent from November to December.