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.
Online brokerage Robinhood is looking for a market valuation of up to $35 billion.
The Biden administration is blaming China for a hack of Microsoft Exchange email server software that compromised tens of thousands of computers around the world earlier this year.
Stocks skidded on Wall Street, and investors sought refuge in government bonds amid worries that fast-spreading variants of the coronavirus will threaten the economic recovery.
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 State Department will offer rewards up to $10 million for information leading to the identification of anyone engaged in foreign state-sanctioned malicious cyber activity, including ransomware attacks, against critical U.S. infrastructure.
Jeff Bezos blasted into space Tuesday on his rocket company’s first flight with people on board, becoming the second billionaire in just over a week to ride his own spacecraft.
Americans spent more last month on clothing and dining out as the economy opened up amid fewer pandemic-related restrictions.
Stocks ended a wobbly week broadly lower, with much of Friday’s loss attributable to weakness in big technology companies like Apple and Amazon.
Candace Parker grew up playing video games and now she’ll be the first female basketball player on the cover of one.
Bitcoin's price fluctuation hasn't slowed demand for crypto-related jobs in the traditional financial sector, which increasingly sees a future in the space.
