Economics
U.S. Core Consumer Prices Show Scant Inflation in Snub to Market
- Core CPI unchanged for second month, restrained by services
- Inflation figures expected to accelerate in coming months
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A key measure of prices paid by U.S. consumers was unchanged in January for a second straight month, underscoring the pandemic’s lingering restraint on inflation that financial markets see heating up.
The core consumer price index, which excludes volatile food and energy costs, increased 1.4% from the prior year, a Labor Department report showed Wednesday. The broader CPI once again got a boost from higher gasoline prices, advancing 0.3% from the prior month and 1.4% from a year earlier.