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.
