Consumer Prices in U.S. Rose Less Than Forecast in January

The cost of living in the U.S. rose less than forecast in January, supporting the Federal Reserve’s view that inflation will be contained.

The consumer-price index increased 0.2 percent after no change the prior month, the Labor Department reported today in Washington. Economists surveyed by Bloomberg had forecast a 0.3 percent gain. Over the past 12 months, prices climbed 2.9 percent, the smallest year-to-year advance since March 2011.