in Business

U.S. consumer prices increase steadily in January

by Riel Roussopoulos February 10, 2021, 2:32 pm 1.6k Views

A shopper she looks over meat products at a grocery store in Dallas on April 29, 2020.

LM Otero/The Associated Press

U.S. consumer prices rose moderately in January and underlying inflation remained benign as the pandemic continues to be a drag on the labor market and services industry.

The Labor Department said on Wednesday its consumer price index increased 0.3 per cent last month after climbing 0.4 per cent in December. In the 12 months through January the CPI rose 1.4 per cent after a similar gain in December. Economists polled by Reuters had forecast the CPI rising 0.3 per cent and increasing 1.5 per cent year-on-year.

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Published at Wed, 10 Feb 2021 14:03:00 +0000