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.
New York City will soon require proof of COVID-19 vaccinations for anyone who wants to dine indoors at a restaurant, see a performance or go to the gym, Mayor Bill de Blasio announced Tuesday.
J. Allen Brack, the president of Activision’s Blizzard Entertainment, is leaving the company as it continues to deal with the fallout from a discrimination and sexual harassment lawsuit.
Stocks shook off a wobbly start and ended higher Tuesday as traders weighed another big set of company earnings reports.
Biles Takes the Beam, Vax Milestone & 'Lord of the Rings' First Look
A growing number of businesses are requiring their employees to get vaccinated against COVID-19, alarmed by the rise of the more contagious delta variant and frustrated that vaccination rates in the U.S. have plateaued.
Jill and Carlo talk about the latest from Tokyo including Simone Biles plans to compete in the balance beam final, Dr. Fauci's dire Delta warning, high profile vaccine mandates from employers like Walmart and Disney, and Square's acquisition of Afterpay.
Stocks closed mixed on Wall Street Monday after a day of choppy trading.
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 ended lower on Wall Street, giving up their gains for the week. The S&P 500 still managed to end July higher, marking six monthly gains in a row, the longest such streak since 2018.
