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.
Macy’s has filed a lawsuit against the company that owns the giant billboard next to its flagship Manhattan store, fighting to prevent Amazon from taking over the advertising space that carried Macy’s name for almost 60 years.
Stocks are closing out September with their worst monthly loss since the beginning of the pandemic.
The number of Americans applying for unemployment benefits rose for the third straight week, a sign that the highly contagious delta variant may be slowing the job market’s recovery.
Despite China's cryptocurrency crackdown, many in the industry are making the case that crypto's demise is not yet a done deal in the world's second-largest economy.
Even as the number of Hispanic-owned businesses in the U.S. has rapidly increased, support from banks has lagged behind. Cheddar's Michelle Castillo reports on the ongoing challenges for some business owners who may also be dealing with the issue of being undocumented.
Stocks ended a wobbly day with mixed results on Wall Street Wednesday as the market regrouped following a sharp drop a day earlier.
Technology companies led a broad slide in stocks on Wall Street Tuesday as investors reacted to a surge in U.S. government bond yields.
“Dear Evan Hansen” may have been a hit on Broadway, but the filmed adaptation of the Tony-winning show is off to a slow start at the box office in its first weekend in theaters.
Lines of cars formed at British gas stations for a fourth day on Monday, as the government mulled bringing in the army to help ease supply disruption triggered by a shortage of truck drivers.
Instagram is putting a hold on the development of Instagram kids, geared towards children under 13, so it can address concerns about the vulnerability of younger users.
