Inflation warms again, little surprise for consumers feeling the bite of price increases in everyday purchases.
The consumer price index jumped by 3% compared to the previous year in January and an increase in the increase of 2.9% in December. The increase from month to month was 0.5% – the largest monthly leap since August 2023.
Categories such as food, fuel and insurance are high, which the economist called “a familiar disappointment”.
Here is what the Last CPI report Means for your household:
The grocery store increased by 0.3% in December, after an increase of 0.5% in November. But even with this slowdown, the main food groups display price increases.
The big (old) story: the eggs, which jumped by 15.2% per month and increased by 53% compared to a year ago.
A dozen large -year eggs, on average cost $ 4.95 in January, against $ 4.15 in December and much higher than $ 2.52 at the start of 2024.
Other basic foods such as coffee and orange juice have also seen significant increases.
Grocery prices increased by 0.5% over the month and increased by almost 2% compared to a year ago. Some items have seen slower prices growth: fruits and vegetables have dropped by 0.5% and cereals and bakery products slowed 0.4%.
The cost of catering remained stable from December to January, up 0.2%, but was still 3.4% higher than a year ago.
Health insurance increased by 4% compared to January 2023 and increased by 0.7% per month. The prescription medication index jumped by 2.5% of months in months and was 4.5% higher than a year ago.
Home health care was 8% higher than a year ago, while nursing home care has increased by 3.5%. The hospital and related services increased by 3.2%, according to the BLS.
Used car prices have slowed down since last year, but in January, in January, 2.2%. The prices of new vehicles were stable.
Automobile insurance, which has soared for more than a year, has increased by 2% per month and is almost more than 12% higher than a year ago.
Three consecutive years of subscription losses mean that insurers have paid more in complaints and expenses than through the premiums we pay – leading to steep hikes today.
There were better news at the fuel pump.
The fuel index increased 1.8% in January, relief compared to the increase of 4.4% of December. As of February 12, the national petrol average was $ 3.15 per gallon, according to AAA data.
Find out more: The prices of used cars have been skipping the most since May 2023 and could push higher as stocks shrink
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Inflation remains greater than the objective of the federal reserve of 2%. This, combined with warmer than expected reading in January, is likely to prevent the Fed break on we pause from reducing interest rates during its political meeting next month – and even for a large part of this year.
Find out more: Trump rejects the hot inflation report after another call to reduce interest rates
