Inflation's January Jump

Energy costs were the main drivers, with gasoline's 6.4% uptick at the pump driving the surge

Energy prices are still in the driver's seat when it comes to U.S. inflation data. The January overall consumer price index, released Feb. 22, showed a jump of 0.7% in the headline figure, above the 0.5% median forecast of economists, thanks to a 5.0% rebound in energy prices. The core index, which excludes food and energy prices, rose 0.2% (median 0.2%). These gains followed December figures of -0.1% for the overall index and 0.1% (as recently revised) for the core.

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