Inflation in the U.S. increased in January, with consumer prices rising 0.5% from the previous month and 3% annually, marking the highest yearly rate since June 2024. Core inflation, excluding food and energy, also rose more than expected at 0.4% monthly and 3.3% annually. Housing, transportation, and food costs were key contributors, with egg prices surging 15.2%.
The Federal Reserve is likely to maintain higher interest rates as inflation remains persistent, delaying potential rate cuts. Market expectations for the Fed to keep rates unchanged in March rose to 97.5% following the report.
Inflation rises 3% in January, hotter than expected
Feb 12, 2025
Article from Fox Business by Eric Revell
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