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.
The world’s biggest shipping company, Denmark’s A.P. Moller-Maersk, has reported a sharp rise in earnings amid strong worldwide demand for shipments of goods.
Stocks closed higher on Wall Street Tuesday, pushing the Dow Jones Industrial Average to its first close above 36,000 points.
Stocks ended a wobbly day modestly higher on Wall Street, enough to notch more all-time highs for major indexes.
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.
Stocks are ending higher Friday as Wall Street closed out a milestone-setting week. Health care, communication services and technology companies rose.
Facebook CEO Mark Zuckerberg said his company is rebranding itself as Meta, an effort to encompass its virtual-reality vision for the future.
A new study from Fidelity has found that holders of cryptocurrency are disproportionately more charitable as investors, with 45 percent donating $1,000 or more to charity in 2020.
The number of Americans applying for unemployment benefits fell to a pandemic low last week, another sign that the job market and economy continue to recover from last year’s coronavirus recession.
Stocks closed broadly higher on Wall Street Thursday, marking more record highs for the S&P 500 and the Nasdaq.
A group of prominent academics and activists are calling on banks and insurers to avoid the kind of systemic collapse that crippled the world economy back in 2008.
