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.
Many had expected Fed Chair Jerome Powell to clarify the timing of the long-anticipated taper following Wednesday's meeting of the Federal Open Market Committee (FOMC), and he didn't disappoint.
Facebook's semi-independent oversight board says it will review the company's "XCheck," or cross check system following an investigation by The Wall Street Journal into the use of an internal system that has exempted high-profile users from some or all of its rules.
Stocks held on to their gains on Wall Street Wednesday after the Federal Reserve signaled it may begin easing its extraordinary support measures for the economy later this year.
Activision Blizzard, one of the world’s most high-profile video game companies, has confirmed a regulatory probe and said it is working to address complaints of workplace discrimination.
Major indexes ended mixed on Wall Street Tuesday after spending much of the day wobbling between gains and losses.
The White House says President Joe Biden will ease foreign travel restrictions into the U.S. beginning in November.
It's difficult it is for many to navigate the marketplace for kids masks, which as medical mask manufacturers point out, didn't really exist prior to the pandemic.
U.S. stocks had their biggest drop since May as traders worried about potential ripple effects if a debt-laden Chinese real estate company defaults and the likelihood that the Fede will signal a pullback.
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.
The demonstration Wednesday centered on fears Bukele may try for re-election in 2024. Protests also voiced concern about the president's concentration of power and the controversial decision to make the cryptocurrency Bitcoin legal tender.
