Inflation was hotter than expected in January, with rising shelter costs a key contributor to the increase. Yet, annual inflation has come down quite a bit after peaking in 2022. Headline CPI is now at 3.1% (down from 9.1%). Core CPI, which removes food and energy prices, is at 3.9% (down from 6.6%). How will the Fed see this progress as it ponders monetary policy and rate cuts this year? #cpi #inflation #mbshighway #mbssocialshare #mortgagemarketnews #mortgageintheknow