Prices rose half a percent in January, according to the latest consumer price index. That is up from a 0.1 percent decline in December, and five times the 0.1 percent increase in November.
The monthly uptick was in line with expectation, though the year-over-year rate came in higher than expected 6.4 percent, a marginal drop from a 6.5 percent rate in December.
Shelter (i.e. housing) contributed the largest share to the monthly increase, rising 0.7 percent.
Energy costs were also up across the board. The price of piped gas shot up 6.7 percent, while energy overall was up 2 percent after two straight months of declines.
Food prices, meanwhile, were up 0.5 percent. That is up from 0.4 percent in December, but still low relative to the last six months.
Used car prices also continued their steady decline, dropping 1.7 percent month-over-month and 11.6 percent year-over-year.
Despite the month-over-month drop, the annual rate has slowed for seven straight months.
In 2021, Americans reported losses from so-called romance scams hit an all-time high of $547 million, or six times the total losses in 2017, according to the FTC.
A gemstone, billed as one of the largest gem-quality opals in existence, has been sold for nearly $144,000 at auction in Alaska on Sunday.
A fire aboard a huge car transport ship adrift in the mid-Atlantic is dying out. A Portuguese navy officer said Tuesday that the massive vessel is expected to be towed to the Bahamas.
Stocks closed broadly lower Tuesday after Russia sent forces into Ukraine’s eastern region and the U.S., European Union and U.K. responded with economic sanctions.
These are the headlines you Need2Know for Tuesday, February 22, 2022.
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
Google's Android is phasing out sharing data with third-party apps, much like Apple did with its policy. But what does this mean for advertisers and users alike? Cheddar's Michelle Castillo takes a closer look.
A burning car transport ship is drifting near the mid-Atlantic Azores Islands after the huge vessel’s 22 crew members were evacuated due to the blaze.
Stocks are closing lower on Wall Street Friday, leaving indexes with a second weekly loss in a row after another bout of turbulence shook markets.
These are the headlines you Need2Know for Friday, February 18, 2022.
