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.
Egyptian authorities have announced the release of a hulking shipping vessel that had blocked the Suez Canal for nearly a week earlier this year.
Wall Street capped a day of choppy trading Wednesday with more record highs for stocks and another drop in bond yields that sends mixed signals about investors' confidence in the market.
The Pentagon said it has canceled a cloud-computing contract with Microsoft that could eventually have been worth $10 billion and will instead pursue a deal with both Microsoft and Amazon.
Amazon founder Jeff Bezos has officially stepped down as CEO of the company he started out of his Seattle garage in 1995.
Software company Kaseya says the cyberattack it experienced over the July 4th holiday weekend but that it was never a threat and had no impact on critical infrastructure.
Banks and energy companies helped pull stocks mostly lower on Wall Street Tuesday, ending the S&P 500's seven-day run of record high closes.
Americans enjoying newfound liberty are expected to travel and gather for cookouts, fireworks and family reunions over the Fourth of July weekend in numbers not seen since pre-pandemic days.
Fireworks may be harder to come by this year amid nationwide shortages that are pushing prices up and leaving shelves empty.
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.
After two months of lower than expected job gains, the June jobs data has brought some cheer to those looking for a faster economic recovery.
