Guess What’s Up; Up Again
Inflation’s up—tell a friend.
Annual inflation rose to 3% in January, marking the fourth consecutive month it has ticked up. On a monthly basis, prices jumped 0.5%, the steepest monthly rise since August 2023 and well above the expected 0.3%. The unwelcome news was driven primarily by pricier gas, food, used cars, and auto insurance. Egg prices alone cracked a ~10-year record, surging 15.2% in just one month.
Consequently, the Fed isn’t adding rate cuts to their to-do list anytime soon.
Fed Chair Jerome Powell told Congress, “We are close but not there on inflation,” reiterating that rate cuts must wait until inflation is clearly headed for the 2% target. Meanwhile, economists warn the White House’s new, broad tariffs on trading partners could drive prices even higher.
ETERNAL PERSPECTIVE
Inflation goes up, and inflation goes down, but one thing is certain: God will remain in control and always provide for you. In the midst of uncertainty, set your hope on the abundance we will enjoy with Christ when he comes.
“Blessed be the God and Father of our Lord Jesus Christ. Because of his great mercy he has given us new birth into a living hope through the resurrection of Jesus Christ from the dead and into an inheritance that is imperishable, undefiled, and unfading, kept in heaven for you.”
1 Peter 1:3-4 (CSB) (read full passage)