Annual inflation in the United States stood at 3.1% in January, according to the latest report by the Bureau of Labor Statistics published on Tuesday. While it represents a drop compared to the 3.4% recorded in December, the January figure was higher than predicted by analysts.
The Consumer Price Index (CPI) was up by 0.3% in January on a monthly basis. The cost of shelter contributed the most to the monthly change, increasing by 0.6%, followed by food at 0.4%. The price of energy was down 0.9%. The core CPI, the index excluding food and energy, rose by 0.4% in January month-on-month. The annual core inflation was 3.9%, the same as in December.
