Tag: Consumer Price Index

Consumer Costs Rise Sharply in Trump’s First Month

Consumer prices jumped 0.5% in January, the largest increase since August 2023, challenging President Donald Trump’s campaign promise to “immediately bring prices down.” The annual inflation rate hit 3%, surpassing economists’ predictions of 2.9%.

Egg prices, as Protos points out, are rising faster than Bitcoin. Prices have surged 53% from $4.85 to $7.43 per dozen since January 3. Under Trump’s second term, which began in January, egg costs have already risen 13% from $6.55, driven partly by avian flu outbreaks affecting supply.

The Labor Department reports broad price increases across sectors. Shelter costs, accounting for nearly 30% of the CPI rise, increased 0.4%. Food prices climbed 0.4%, with grocery store prices up 0.5%. Prescription medication costs saw a record surge, while motor vehicle insurance rose 2%.

Federal Reserve Chair Jerome Powell told lawmakers the inflation report shows the central bank remains “not quite there yet” in reaching its 2% target. The data has diminished expectations for interest rate cuts, with the Fed maintaining rates at 4.25-4.50%.

Economists warn Trump’s proposed tariffs on imported goods could further fuel inflation, while planned deportations might create labor shortages and drive up business costs.


Information for this story was found via Reuters, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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