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.
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 number of incidents involving unruly airline passengers is growing, and so are the fines imposed by federal safety officials.
Stocks ended higher on Wall Street Friday but not enough to erase the market’s losses from earlier in the week.
Facebook is trying to pull in workplace users with a new virtual-reality app called Horizon Workrooms.
Wall Street closed out another choppy day of trading Thursday, leaving the major stock indexes on pace for a weekly loss.
The number of people seeking unemployment benefits fell last week for a fourth straight time to a pandemic low.
The question facing mask-makers now is whether they can keep up with the combined demand of consumers, hospital systems, and now schools, many of which are reopening in September with mask mandates for their students.
The names, Social Security numbers and information from driver’s licenses or other identification of just over 40 million people who applied for T-Mobile credit were exposed in a recent data breach, the company said Wednesday.
Stocks took a late turn lower on Wall Street, ending with their second straight loss.
Spirit Airlines is putting numbers on a damaging stretch of flight cancellations this summer.
