Lauren Simonetti

That is hotter than the 0.3% that was expected, and it matches December's number.

If you strip out volatile food and energy, core PPI year over year in January, 3.6%.

The market is selling off further on this information.

The economy grew at an annualized rate of just 1.4% at the end of last year, down sharply from the 4.4% growth in the prior quarter.

What happened?

Well, the government shut down for 43 days.