Inflation accelerated in January, driven by rising prices for consumer staples such as groceries and energy. Economists caution that inflation remains persistently above the Federal Reserve’s target, with trade and immigration policies under President Donald Trump potentially adding further pressure.
The consumer price index, a key inflation measure, rose 3% over the 12 months ending in January, the U.S. Bureau of Labor Statistics reported Wednesday.
January’s reading increased from 2.9% in December, marking the fourth consecutive month of rising annual inflation after it stood at 2.4% in September.
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