Consumer prices shot up in January at the fastest pace in four months as the cost of gasoline and electricity posted big gains.
The Labor Department reported that its closely watched Consumer Price Index rose by 0.7 percent last month, with about 70 percent of that increase coming from higher energy costs. The core rate of inflation, which excludes energy and food, was better behaved, rising by 0.2 percent, a moderate increase that was in line with forecasts.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Housing Starts Plunge, Producer Prices Shoot Up
- Wholesale Inflation, Retail Sales Climb
- Gas Prices Push Up Wholesale Inflation
- Consumer Prices Up; Retail Sales Rise
- Consumer Prices Drop, Housing Starts Rise
- Cost of Living On the Rise
- Wholesale Inflation Moderates
- Inflation Rises Above Fed Comfort Zone