The consumer price index increased 0.6 percent in January on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index rose 2.5 percent before seasonal adjustment.
The overall index rose to 2.5 percent in January from 2.1 percent in December.
A major uptick came from the energy index, rising 4 percent, with energy commodities and gasoline both noting close to 8 percent increases. A nationwide average of $2.30 for a gallon of gasoline, up from under $2 last spring, has pinched U.S. households, as reported by Marketwatch.
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Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
