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.
SpaceX is resolving toilet spills in its capsules before it launches another crew for NASA. Liftoff is currently set for early Sunday from Florida's Kennedy Space Center.
Stocks faded in the last hour of trading and ended mostly lower Wednesday, a day after the S&P 500 and the Dow Jones Industrial Average set their latest record highs
U.S. health advisers have endorsed kid-size doses of Pfizer's COVID-19 vaccine for younger children.
U.S. consumer confidence rose in October after three straight declines as the public’s anxiety about the delta variant of coronavirus appears to have abated.
Sales of new homes jumped 14% in September to the fastest pace in six months as strong demand helped offset rising prices.
Last spring, as false claims about vaccine safety threatened to undermine the world's response to COVID-19, researchers at Facebook found they could reduce vaccine misinformation by tweaking how vaccine posts show up on users' newsfeeds.
Stocks held on to modest gains on Wall Street Tuesday, pushing the S&P 500 and the Dow Jones Industrial Average further into record heights.
A report in the New York Times published Sunday called 'Inside Amazon's Worst Human Resources Problem' details the company mishandling paid and unpaid leave for some of its workers for more than a year and a half, following an email sent to Amazon founder Jeff Bezos from a new mother who works at a warehouse in Oklahoma, which then led to an internal investigation at Amazon. Seattle tech correspondent for the New York Times Karen Weise joined Cheddar News' Closing Bell to talk about her report and what the Amazon investigation found.
Moderna says its low-dose COVID-19 vaccine is safe and appears to work in 6- to 11-year-olds.
Facebook the company is losing control of Facebook the product — and of the carefully crafted image it’s spent over a decade selling despite problems like misinformation, human trafficking, and pervasive extremist groups on its platform.
