Vox Sentences - January's unexpected inflation spike

US inflation and consumer prices unexpectedly rose in January; the war in Ukraine begins its second year.

Tonight's Sentences was written by Jariel Arvin.

TOP NEWS

US inflation remains high. People spend anyway.

Julia Nikhinson/Getty Images

The Federal Reserve’s preferred inflation measure indicates US inflation and consumer spending rose more than expected in January, according to a government report released Friday. [CNN / Alicia Wallace]
The personal consumption expenditures price index shows consumer prices and core inflation rose 0.6 percent from December to last month. It’s the fastest pace the index, which does not include energy or food prices, has grown since June. [Associated Press / Paul Wiseman]
Consumer spending also rose 1.8 percent in January, meaning Americans continued shopping despite higher prices. [New York Times / Jeanna Smialek and Ben Casselman]
The new figures suggest the Federal Reserve’s interest rate hikes to bring down prices aren’t slowing inflation as much as might be expected. [Axios / Courtenay Brown]
US stocks saw their biggest weekly drop in over two months Friday as investors worry inflation increases will last longer than expected. [Financial Times / Martha Muir]

One year of war in Ukraine

Ukrainian President Volodymr Zelenskyy on Friday vowed to continue pushing for victory as Russia’s invasion entered its second year. [AP News / John Leicester, Hanna Arhirova, and Samya Kullab]
Between 40,000 and 60,000 Russian troops have died in the war, according to UK government estimates. Over 8 million refugees have fled Ukraine while millions are trapped in the country amid ongoing fighting. [CBS News / Haley Ott]
Friday, China called for a ceasefire and peace talks between Moscow and Kyiv. Beijing also urged the West to end sanctions against Russia. [Al Jazeera]
Ukraine and Russia both think they can win, raising questions about what comes next and how long Western support for Kyiv will last. [Vox / Jen Kirby]

📍 If you read just one story

Vox’s Jonathan Guyer explains how the absence of an exit strategy could make Ukraine America’s next forever war. [Vox / Jonathan Guyer]

MISCELLANEOUS

Vox explains why Section 230 — the free speech law shielding internet platforms from liability over content users post online — is under attack. [Vox / Sara Morrison]

Cosori is recalling 2 million air fryers after receiving hundreds of reports of the appliances catching fire and overheating. [CBS News / Megan Cerullo]
Penguin will release altered versions of Roald Dahl classics alongside the originals after receiving backlash over its efforts to change offensive language. [Washington Post / Ron Charles]
North Korea launched four long-range missiles Friday, a day after the US and South Korea held defense training drills. [AP News / Kim Tong-Hyung]

CROSSWORD OF THE DAY

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VERBATIM

“It seems like consumers were feeling jolly in January. They spent more freely across the board, really on all items, despite inflation being higher.”

[EY Parthenon chief economist Gregory Daco on January’s inflation data / CNN]

LISTEN TO THIS

Another call from Ukraine

On the morning Russia invaded Ukraine, we called Yulya and Kurii. A year later, we’re calling them back.

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Key phrases

Ukrainian President Volodymr Zelenskyy Interest rate hikes biggest weekly drop UK government estimates free speech law Roald Dahl classics four longrange missiles defense training drills TOP NEWSUS inflation preferred inflation measure The Federal Reserve

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