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.
Consolidation has been transforming the industry for at least the past two years, but much of the activity was happening in the background. That all changed in the past month.
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.
U.S. employers stepped up hiring in January, adding 467,000 jobs despite a wave of omicron inflections that sickened millions of workers, kept many consumers at home and left businesses from restaurants to manufacturers short-staffed.
Stock indexes ended mixed and Treasury yields jumped Friday as Wall Street’s expectations rise that the Federal Reserve may soon start raising interest rates sharply.
PlayVS CEO and founder Delane Parnell is helping shift the culture of amateur sports across the U.S. through esports.
A historic plunge in the stock price of Facebook’s parent company helped yank other tech stocks lower on Wall Street Thursday, abruptly ending a four-day winning streak for the market.
For Meta, the sell-off marks another failed attempt by the social media giant to reinvent its core business model. What it means for other stablecoin projects, however, is still an open question.
Starbucks had a strong holiday season in the U.S., but those results were offset by higher labor and commodity costs and weaker sales in China.
Stocks closed higher on Wall Street Wednesday, putting major indexes on track to extend their weekly gains.
This Black History Month, Cheddar is highlighting prominent, contemporary Black Americans like Gerome Sapp, former NFL player and founder and CEO of sneaker marketplace Rares.
