The Consumer Price Index, the government's key measure of inflation, showed prices were unchanged for the second month in a row in January, according to the Bureau of Labor Statistics.
However, the core CPI went up 0.3% (biggest since May 2011). That excludes food and energy.
See the BLS news release
for more details.
By mid-April, we'll have all the CPI data we need to compute the next I Bond inflation component. Based on the last four months, the next I Bond inflation rate may be low. However, the recent surge in gas prices may push it higher. Here's what the Savings Bonds Advisor blog says:
The Series I bond inflation component is based on the difference between the March and September levels of the CPI-U. The September level of 231.407 will be the base for the next rate announcement. If inflation for all six months of the period matches the rate during the first three months, the next I bond inflation component would be zero. Read more