Food, Energy Pushes US Consumer Prices Higher Than Forecast

The Consumer Price Index (CPI) rose by more than expected in January according to data supplied by the US Labor Department. CPI rose by 0.4 percent compared to projections of 0.3 percent with higher food and energy prices contributing to the increase. The Core CPI which excludes these items rose by 0.2 percent.

“We are seeing turn-of-the year price increases,” Stephen Stanley, chief economist at Pierpont Securities LLC in Stamford, Connecticut, said before the report. “Firms are really struggling with this. They want to raise prices and want to feel their way through and get away with it before consumers start to protest.”

Source: Bloomberg

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