US CPI comes in hotter-than-expected in January

(Sharecast News) - US consumer prices rose a hotter-than-expected 0.5% in January, according to the Bureau of Labor Statistics, indicating that inflation remained a problem across the country. The consumer price index increased to 317.67 points in January, up from 315.61 in December. On an annualised basis, CPI edged up to 3% last month, up from 2.9% a month earlier.

The index for shelter rose 0.4%, making up almost 30% of the monthly all-items increase, while annual core inflation, which strips out volatile food and energy costs, unexpectedly rose to 3.3% from 3.2%, compared to forecasts it would slow to 3.1%.

The monthly core inflation edged up 0.4%, which was also more than expected.





Reporting by Iain Gilbert at Sharecast.com