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.
A federal judge has dismissed antitrust lawsuits brought against Facebook by the Federal Trade Commission and a coalition of state attorneys general, dealing a significant blow to attempts by regulators to rein in tech giants.
Electronic cigarette giant Juul Labs Inc. will pay $40 million to North Carolina and take more action to prevent underage use and sales.
Strength for tech stocks nudged U.S. indexes a bit further into record heights Monday, more than making up for losses across much of the rest of Wall Street.
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.
Danish toymaker Lego has presented its first building bricks made from recycled drinks bottles — an experimental project that if successful could eventually go into production.
Stocks closed mostly higher on Wall Street Friday, giving the S&P 500 its biggest weekly gain since February.
President Joe Biden has announced a bipartisan agreement on a pared-down infrastructure plan that would make a start on his top legislative priority and validate his efforts to reach across the political aisle.
The number of Americans applying for unemployment benefits dropped last week, a sign that layoffs declined and the job market is improving.
Stocks closed higher on Wall Street Thursday as traders were encouraged to see a bipartisan deal on infrastructure spending as well as some positive reports on the economy.
John McAfee, the creator of the McAfee antivirus software, has been found dead in his cell in a jail near Barcelona, a government official has told The Associated Press.
