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.
Stocks ended a wobbly day mostly lower on Wall Street Monday, with energy companies logging some of the biggest losses as oil prices took another turn lower.
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.
United Airlines will require U.S.-based employees to be vaccinated against COVID-19 by late October, and maybe sooner.
Virgin Galactic is selling tickets for space flights again, just weeks after founder Richard Branson rode a rocket-powered plane to more than 50 miles above the Earth.
Hiring surged in July as American employers added 943,000 jobs.
Treasury yields powered higher Friday and two major stock indexes notched more record highs after a report showed the U.S. job market is making widespread improvements.
The U.S. men's track and field squad isn't looking so hot, Apple announces anti-child pornography measures on their iPhones, and the South Park boys get another big payday.
The e-commerce company opened Shopify New York on Thursday, a community workspace aimed at helping entrepreneurs. Cheddar's Michelle Castillo takes a deeper look at the Manhattan location.
Illinois dispensaries sold a record $127.8 million in recreational marijuana in July, with a big boost coming from out-of-state fans who converged on Chicago for the Lollapalooza music festival.
Stocks rose on Wall Street Thursday, notching more record highs for the S&P 500 and the Nasdaq.
