Part 2/7:
Consumer prices have come in hotter than anticipated, reflecting a familiar seasonal pattern observed in previous years. Gasoline price estimates from the BLS are a prime example. Although gas prices are notably lower than they were a year prior, the BLS reported a subsequent rise of 1.8% in January following a 4% increase in December. This discrepancy paints a misleading picture of the current gas market; if the BLS's figures were accurate, Chevron wouldn’t be announcing extensive layoffs.