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.
After weeks of regulatory crackdowns and public denouncements, the Chinese government has delivered a crushing blow to bitcoin mining in the country.
Brooklyn’s beloved food festival Smorgasburg is back after a forced hiatus during the coronavirus pandemic. As with most businesses, founders say the popular festival won’t look quite the same as before.
Stocks drifted to a mixed finish on Wall Street Wednesday, after tentative gains earlier in the day brought the S&P 500 back near a record high.
Warren Buffett is resigning as a trustee from the Bill and Melinda Gates Foundation.
Federal Reserve Chairman Jerome Powell testified before the House Select Subcommittee on the Coronavirus Crisis on Tuesday.
Stocks finished higher on Wall Street Tuesday, nudging the S&P 500 closer to the record high it reached last week.
Facebook is launching podcasts and live audio streams in the U.S. to compete with emerging rivals.
Stocks rebounded on Wall Street Monday and clawed back most of their sharp loss from last week.
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 trend of removing sponsor bottles at European Championship news conferences was started by Cristiano Ronaldo. UEFA has now asked teams to stop it.
