Surprising exactly zero Austrian-school economists: Inflation: Consumer prices rise 3.1% in January, defying forecasts for a faster slowdown.

The Consumer Price Index (CPI) rose 0.3% over last month and 3.1% over the prior year in January, slightly higher than December’s 0.2% month-over-month increase but a deceleration from December’s 3.4% annual gain.

Both measures were higher compared to economist forecasts of a 0.2% month-over-month increase and a 2.9% annual increase, according to data from Bloomberg.

Save for the future, then save some more. I use Acorns, among other tools. It’s returned 22% for me, which means its probably keeping pace with inflation, perhaps beating it by a few percentage points. It beats putting it on the credit card:

Americans now owe a collective $1.13 trillion on their credit cards, an all time high: pic.twitter.com/Zxdi38uvXv

— unusual_whales (@unusual_whales) February 11, 2024

Hmm, I wonder what happened at the start of 2021 that made this graph abruptly change slope?