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 Federal Reserve is reviewing the ethics policies that cover the financial holdings of its senior officials in the wake of disclosures that two regional Fed presidents engaged in extensive trading last year.
Stocks closed lower on Wall Street Friday, marking a feeble ending to an up-and-down week of trading.
The number of Americans seeking unemployment benefits moved up last week to 332,000 from a pandemic low, a sign that worsening COVID-19 infections may have slightly increased layoffs.
Stocks couldn’t hold on to a brief afternoon gain and wound up ending mostly lower.
Space Milestone, Booster Debate & Greatest Songs Ever
Amazon said that it is hiring 125,000 positions in warehousing and distribution throughout 18 states, in addition to the 40,000 corporate and tech openings it announced earlier this month.
President Joe Biden has invited CEOs and business leaders to the White House to discuss COVID-19 mandates.
For the first time in 60 years of human spaceflight, a rocket is poised to blast into orbit with no professional astronauts on board, only four tourists.
Stocks closed solidly higher Wednesday, shaking off some recent doldrums and giving the S&P 500 its biggest daily gain since late August.
Apple unveiled its next iPhone line-up, including a model that offer twice the maximum and other modest upgrades to last year’s editions.
