Inflation rose 0.5% in January, more than expected and up 6.4% from a year ago

TL;DR

Inflation turned higher to start 2023, as rising shelter, gas and fuel prices took their toll on consumers, the Labor Department reported Tuesday. Logan, a voting member this year on the rate-setting Federal Open Market Committee, added that she is concerned about higher commodity inflation as China reopens from its Covid lockdowns, and sees the surprisingly strong labor market as another risk. Global Business and Financial News, Stock Quotes, and Market Data and Analysis

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