Insignia Consultants | US consumer prices increase more than expected in January
US consumer prices increase more than expected in January
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WASHINGTON, Feb 12 (Reuters) - U.S. consumer prices increased more than expected in January, reinforcing the Federal Reserve's message that it was in no rush to resume cutting interest rates amid growing uncertainty over the economy.
The consumer price index jumped 0.5% last month after gaining 0.4% in December, the Labor Department's Bureau of Labor Statistics (BLS) said on Wednesday.
In the 12 months through January, the CPI increased 3.0% after advancing 2.9% in December. Economists polled by Reuters had forecast the CPI gaining 0.3% and rising 2.9% year-on-year.
