Thursday, February 20, 2014

Consumer Prices Rose 0.1% in January

Consumer prices rose 0.1% in January due to a spike in household energy costs. January is the third consecutive month of growth.

Core prices continued their modest gains as well, growing 0.1% for the second consecutive month. Prices on goods declined 0.1% while services rose 0.2%. Energy prices saw a 0.6% increase, which given the unusually cold weather in January, was expected.

Prices are 1.6% above year ago levels, below the 2.0% target of the Federal Reserve, with core prices also up 1.6% over the same period. Energy saw the largest year-over-year gains, growing 2.1%.

Read the BLS report.

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