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.
T-Mobile says it is investigating a leak of its data after someone took to an online forum offering to sell the personal information of cellphone users.
New Zealand’s government has taken drastic action by putting the entire nation into a strict lockdown after finding a single case of coronavirus infection in the community.
Americans cut back on their spending last month as a surge in COVID-19 cases kept people away from stores.
Stocks closed lower on Wall Street Tuesday, ending a five-day winning streak by the S&P 500, as investors turned cautious amid more signs that the coronavirus pandemic is still holding back the U.S. economy.
Senior Analyst from The Motley Fool Jason Moser joins Closing Bell to discuss headwinds and tailwinds for Disney ahead of their third quarter fiscal earnings results.
The U.S. government has opened a formal investigation into Tesla’s Autopilot partially automated driving system after a series of collisions with parked emergency vehicles.
Stock indexes closed at record highs on Wall Street Monday, despite rising coronavirus infections in the U.S. and around the globe, as well as geopolitical concerns in Asia.
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.
Stocks managed to eke out tiny gains after another day of wobbly trading, leaving the S&P 500 higher for the second week in a row.
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