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- U.S. consumer price inflation is flat in January
U.S. consumer price inflation is flat in January
The U.S. Labor Department released consumer price inflation data on Friday. The U.S. consumer price inflation was flat in January, beating expectations for a 0.1% decline, after a 0.1% fall in December.
The index was mainly driven by higher prices of rents and medical care, and higher shelter costs. Rents rose 0.5% in January, while both medical care and shelter costs were up 0.3%.
Gasoline prices fell 4.8% in January, while food prices were flat.
On a yearly basis, the U.S. consumer price index increased to 1.4% in January from 0.7% in December, exceeding expectations for a rise to 1.3%. It was the biggest increase since October 2014.
The U.S. consumer price inflation excluding food and energy gained 0.3% in January, exceeding expectations for a 0.2% rise, after a 0.2% increase in December.
On a yearly basis, the U.S. consumer price index excluding food and energy increased to 2.2% in January from 2.1% in December, beating expectations for a 2.1% rise.
The consumer price index is not preferred Fed's inflation measure.
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