CPI surges 0.5% in January, but yearly rate of inflation unchanged

• February 14, 2018
• realestatelife
• Announcements, Business & Markets, Real Estate, Real Estate Finance, Your Real Estate Life

The consumer price index leaped 0.5% in January to mark the biggest increase in five months. The cost of rent, clothes, gasoline, health care and auto insurance all rose.

Economists surveyed had forecast a 0.4% increase.

Higher consumer prices in January, however, did not substantially alter the overall picture on inflation. The increase in the CPI over the past 12 months was unchanged at 2.1%

After stripping out gas and food, the more closely followed core rate of inflation rose 0.3% last month. The 12-month rate of core inflation was also flat at 1.8%.

Inflation-adjusted U.S. wages declined by 0.2% in January.