- Bay Area Times
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- CPI, core CPI remain above target; core CPI above on monthly basis for 5th consecutive month
CPI, core CPI remain above target; core CPI above on monthly basis for 5th consecutive month
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/e17c23f3-58a2-4d15-b965-192be2687e69/Bay_Area_Times_email.png)
Top stories today:
- CPI, core CPI remain above target at 0.3% MoM
- Bitcoin ETFs: Grayscale lead in 1st day trading volume
- Microsoft briefly takes over Apple as #1 company by market cap
- Credit card delinquency jumps to highest since 2012
0. Data and calendar
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/c653750e-15f2-4bde-882d-e2fedc41807a/Screenshot_2024-01-12_at_7.03.55_AM__1_.png?t=1705061085)
All values as of 6 AM ET / 3 AM PT, other than S&P500 close (4 PM ET / 1 PM PT).
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/33dec2ed-26aa-4780-83b0-f79d2d9a3ba1/Screenshot_2024-01-11_at_4.48.06_PM__1_.png?t=1705015303)
All times are ET.
1. CPI, core CPI remain above target; core CPI above on monthly basis for 5th consecutive month
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/be9ab9bf-8df6-4639-99e7-8c6ef6f8c8ba/CPI_and_core_CPI_were_0.30__and_0.31__in_December___both_still_above_the_0.16__monthly_target__.png?t=1705014804)
CPI: 0.3% MoM / 3.4% YoY in December, vs. 0.2% / 3.2% expected, from 0.1% / 3.1%.
Core CPI: 0.3% / 3.9%, vs. 0.3% / 3.8%, from 0.3% / 4.0%.
Vehicle insurance, electricity, and airline fares led monthly inflation
2. Bitcoin ETFs: Grayscale, BlackRock, Fidelity lead in 1st-day trading volume ($5B total)
Bitcoin covered call ETF filed by Grayscale.
Vanguard is blocking trades of Bitcoin ETFs, and won’t launch an ETF of its own.
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