WKYT | Lexington, Kentucky | News

Consumer prices rose 0.4 percent last month

WASHINGTON (AP) - A big jump in food and gas costs pushed consumer prices up in January, but outside those volatile categories inflation was relatively tame.
The Labor Department says the Consumer Price Index rose 0.4 percent last month, matching December's increase. In the past year, the index has risen 1.6 percent.
Excluding food and energy, the core index rose 0.2 percent. That's the largest increase in more than a year. Core prices increased 1 percent over the past 12 months. That's higher than December's 0.8 percent annual pace, but well below the Federal Reserve's preferred range of closer to 2 percent.
Food prices increased 0.5 percent in January, the most in more than two years. Energy costs jumped 2.1 percent.

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