January Inflation Persists as Iran War Lifts Oil-Price Pressures
TL;DR Summary
U.S. inflation remained elevated in January, with the PCE price index up 0.3% (0.4% core) and 2.8% year-over-year (3.1% core). GDP for late 2025 was revised down to a 0.7% annual pace. The Iran war has pushed crude prices higher, signaling additional near-term price pressures on gas, travel and goods, while tariffs and healthcare costs keep inflation elevated. With labor growth tepid and inflation running above the Fed’s target for years, policy makers face a delicate balancing act between price stability and employment as rate paths are weighed against the oil shock.
- U.S. Economy Was Vulnerable Before War With Iran The New York Times
- Fourth-quarter GDP revised down to just 0.7% growth; January core inflation was 3.1% CNBC
- The US economy grew just 0.7% last quarter, ahead of a potentially destabilizing war with Iran CNN
- U.S. economy expanded at sluggish 0.7% in fourth quarter, government says, downgrading first estimate NBC News
- US fourth-quarter GDP growth revised down to 0.7% Reuters
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