The Bureau of Labor Statistics reported today no change in the CPI-U All Items Index for January. However, with January 2015’s large fall dropping out of the year-year calculation, the annual inflation rate jumped from 0.67 to 1.34%.
Today’s release also includes the annual revision to past data. Some reduction in seasonality can be seen (chart below) as a result of the revisions, but the small changes – being seasonal – result in negligible change to the previously reported annual change numbers (inflation).
