Inflation rises as consumer prices surge in January
January’s Consumer Price Index rose over 3% for the first time since June 2024 and surpassing economists’ expectations.”This is a setback for consumers. It’s a setback for central bankers. It’s a setback for the economy,” says Mark Hamrick of Bankrate.com.Inflation also worsened month over month, with prices jumping 0.5% in January from December, the largest…