Report
Pricing in the New Year: Why Inflation Behaves Differently at the Start of the Year
Abstract: Each year from 2023 through 2025, monthly inflation, as measured by the US Bureau of Labor Statistics consumer price index, was generally higher in January compared with the rest of the year. This brief presents three reasons that collectively may explain why inflation has been especially elevated at the beginning of recent calendar years.
JEL Classification: E31; E32; E52;
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Bibliographic Information
Provider: Federal Reserve Bank of Boston
Part of Series: Current Policy Perspectives
Publication Date: 2026-02-04
Number: 26-1