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.
American activists are appealing to Tesla Inc. to close a new showroom in China’s northwestern region of Xinjiang, where officials are accused of abuses against mostly Muslim ethnic minorities.
Slumping technology stocks left the S&P 500 slightly lower on Wall Street Tuesday, even as the Dow Jones Industrial Average of 30 blue-chip companies marked another record high.
AT&T and Verizon said Monday they will delay activating new 5G wireless service for two weeks following a request by Transportation Secretary Pete Buttigieg, who cited the airline industry’s concern that the service could interfere with systems on planes.
In a case that exposed Silicon Valley’s culture of hubris and hype, Elizabeth Holmes was convicted Monday of duping investors into believing her startup Theranos had developed a revolutionary medical device that could detect a multitude of diseases and conditions from a few drops of blood.
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.
Chris Rondeau, CEO of Planet Fitness, joined Cheddar's Chloe Aiello to talk about the gym franchise's sponsorship of the Times Square New Year's Eve festivities and a look ahead to 2022 for the fitness business.
From possible federal reform and expanding international opportunities to increasing brand awareness and ongoing M&A, 2022 could be a big year for cannabis.
Wall Street ended 2021 on a weak note Friday, but still managed to end the year with big gains.
New Year's Eve, Colorado Fires & Free Money
Cheddar looked back at Year Two of the pandemic to provide a breakdown of the biggest trends impacting money and what they could mean for 2022.
