Things cost a bit more down south last month.
Figures released Wednesday by the U.S. Labor Department show consumer prices rose moderately in January and underlying inflation remained benign as the pandemic continues to be a drag on the labor market and services industry.
The numbers said on Wednesday its consumer price index increased 0.3% last month after climbing 0.4% in December. In the 12 months through January the Consumer Price Index rose 1.4% after a similar gain in December. Economists had forecast the CPI rising 0.3% and increasing 1.5% year-on-year.
Prior to the revision, the CPI was previously reported to have increased 0.4% in December and advanced 1.4% year-on-year.
