Prices headed north in January

The consumer price index increased 0.4% in January, fueled in large part by rising food and beverage prices.
FEB 20, 2008
CPI rises 0.4% in January The consumer price index increased 0.4% in January, fueled in large part by rising food and beverage prices, the Department of Labor reported today. The CPI, a key indicator of inflation trends, was 4.3% higher than it was in January 2007. Food and beverage prices showed the biggest gains with a 0.7% spike for the month after a negligible 0.1% gain in December. Energy prices slowed down in January rising 0.7% after climbing 1.7% in December. Core inflation — which excludes food and energy prices — rose by 0.3% in January following increases of 0.2% for the previous nine months.

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