Consumer confidence in the US fell unexpectedly in January

The Conference Board said that the consumer confidence index in the United States fell to 107.1 points in January, compared to 109.0 points in December, and consumer expectations about inflation rose for 12 months to 6.8% in January, compared to 6.6% in December. The current situation index of current business and labor market conditions rose to 150.9 points in January, compared to 147.4 points in December, while the index of consumers' short-term income and business expectations and labor market conditions declined to 77.8 points in January, compared to 83.4 points in December.

Other data showed that the labor cost index in the United States increased by 1.0% in the fourth quarter of 2022, the lowest level since the last quarter of 2021, compared to 1.2% in the third quarter of 2022, and on an annual basis, labor costs increased by 5.1% in The fourth quarter .