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.
Losses widened at Bed Bath & Beyond as a tangled global supply chain continued to squeeze sales and the home goods chain lowered expectations for its final fiscal quarter, and also its full-year revenue.
U.S. employers added a modest 199,000 jobs last month while the unemployment rate fell sharply, at a time when businesses are struggling to fill jobs with many Americans remaining reluctant to return to the workforce.
Europe's sky is filling up with near-empty flights that even airlines admit serve no purpose except securing valuable time slots at some of the world's biggest airports.
Stocks ended lower on Wall Street Friday and Treasury yields rose as investors anticipated the Federal Reserve will stay on course to raise interest rates as soon as March.
Sylvia Jablonski, Co-Founder & CIO of Defiance ETFs, discusses the many challenges markets face in 2022, and how inflation is impacting consumer spending and tech demand.
More declines in big technology stocks pulled major indexes lower on Wall Street, driving the market further into the red on the first week of the year.
Federal Reserve policymakers at a meeting last month said the U.S. job market was nearly at levels healthy enough that the central bank's low-interest rate policies were no longer needed.
Stocks closed lower on Wall Street Wednesday after minutes from the Federal Reserve’s last meeting raised expectations that the central bank will move faster to raise interest rates to fight inflation.
A record 4.5 million American workers quit their jobs in November, a sign of confidence and more evidence that the U.S. job market is bouncing back strongly from last year’s coronavirus recession.
Starbucks says its U.S. workers must be fully vaccinated by Feb. 9 or face a weekly COVID testing requirement
