Inflation & Prices
US Inflation Stays Elevated, Adding Pressure for More Fed Hikes
- CPI climbed 0.5% in January, the most in three months
- Annual headline and core measures came in higher than expected
This article is for subscribers only.
US consumer prices rose briskly at the start of the year, a sign of persistent inflationary pressures that could push the Federal Reserve to raise interest rates even higher than previously expected.
The overall consumer price index climbed 0.5% in January, the most in three months and bolstered by energy and shelter costs, according to data out Tuesday from the Bureau of Labor Statistics. The measure was up 6.4% from a year earlier.