Core inflation drops on falling housing costs [MarketWatch]

January CPI was just released this morning, and the news is not good for those hoping for higher interest rates. According to MarketWatch

U.S. core consumer prices fell a seasonally adjusted 0.1% in January, the first decline since 1982, the Labor Department estimated Friday. [...] Inflation was weaker than expected by economists surveyed by MarketWatch.

Note, PPI numbers were released yesterday which showed more inflation (see post).