Our summary of recent economic events and what to expect in the weeks ahead.
- The headline Consumer Price Index rose 0.3% in January and was up 1.4% year-on-year. Removing food and energy prices, the core index was flat on the month and slowed to 1.4% year-on-year from 1.6% in December.
- Small business optimism deteriorated for the third month in a row in January. Underneath the headline, the employment indicators remained broadly positive. Initial jobless claims also edged lower to 793k last week.
- Health metrics moved in the right direction this week. New COVID-19 cases continued to trend down, falling below 100k per day. Meanwhile, the vaccine rollout continued to pick up, averaging 1.6 million per day.