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13:30 Dados States
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U.S. Jan. food prices up 0.7%, most in 2 years
U.S. Jan. tobacco prices up 3.1%
U.S. Jan. medical care prices up 0.8%, most in 16 years
U.S. Jan. owners' equivalent rent up 0.2%, lowest in a year
U.S. Jan. energy prices fall 1.5%
U.S. CPI up 2.1% year-on-year
U.S. core CPI up 2.7% year-on-year vs. 2.6% previously
U.S. Jan core CPI rises 0.3% vs. 0.2% expected
U.S. Jan. CPI rises 0.3% vs. 0.1% expected
ECONOMIC REPORT: CPI up 0.3% in January, more than expected; Core inflation rises 0.3% on biggest jump in medical care prices in 16 years
By Rex Nutting, MarketWatch Last Update: 8:30 AM ET Feb 21, 2007
WASHINGTON (MarketWatch) - U.S. consumer prices increased 0.3% in January, led by large increases in food, medical care and tobacco prices, the Labor Department reported Wednesday.
Core inflation, which ignores movements in food and energy prices, rose 0.3% in January, the biggest increase since June.
The greater-than-expected consumer price index could lessen the odds that the Federal Reserve would cut interest rates. The core CPI is up 2.7% in the past year, a notch higher than the 2.6% year-on-year rate in November and December.
The CPI is up 2.1% in the past 12 months.
Economists surveyed by MarketWatch were looking for a 0.1% gain on the CPI and for a 0.2% gain on the core CPI.
In December, the CPI rose 0.5%, while the core CPI was up 0.1%.
As expected energy prices declined, falling 1.5% after a 4.2% gain in December. Gasoline and natural gas prices fell 3%.
Food prices jumped 0.7%, the largest gain in nearly two years. Stormy weather in California destroyed some crops, helping to send vegetable prices up 1.9% and fruit prices up 1.5%. Dairy prices rose 1.3%.
Shelter prices rose 0.3%. Owners' equivalent rent, which represents nearly a fourth of the CPI, increased 0.2%, the smallest increase in a year. Rents rose 0.4%. Hotel fares increased 1.1%.
Medical care prices rose 0.8%, the most in 16 years. Prescription drug prices jumped 1.1%, also the biggest increase in 16 years after falling for three months in a row. Physician services prices rose 1.2%, the most in 26 years.
Apparel prices rose 0.3%
Transportation prices fell 0.8% on the drop in fuels. Airfares rose 2.1%, the most in more than two years. New car prices were unchanged.
Tobacco prices rose 3.1%, the biggest increase since mid-2002.
U.S. Jan. food prices up 0.7%, most in 2 years
U.S. Jan. tobacco prices up 3.1%
U.S. Jan. medical care prices up 0.8%, most in 16 years
U.S. Jan. owners' equivalent rent up 0.2%, lowest in a year
U.S. Jan. energy prices fall 1.5%
U.S. CPI up 2.1% year-on-year
U.S. core CPI up 2.7% year-on-year vs. 2.6% previously
U.S. Jan core CPI rises 0.3% vs. 0.2% expected
U.S. Jan. CPI rises 0.3% vs. 0.1% expected
ECONOMIC REPORT: CPI up 0.3% in January, more than expected; Core inflation rises 0.3% on biggest jump in medical care prices in 16 years
By Rex Nutting, MarketWatch Last Update: 8:30 AM ET Feb 21, 2007
WASHINGTON (MarketWatch) - U.S. consumer prices increased 0.3% in January, led by large increases in food, medical care and tobacco prices, the Labor Department reported Wednesday.
Core inflation, which ignores movements in food and energy prices, rose 0.3% in January, the biggest increase since June.
The greater-than-expected consumer price index could lessen the odds that the Federal Reserve would cut interest rates. The core CPI is up 2.7% in the past year, a notch higher than the 2.6% year-on-year rate in November and December.
The CPI is up 2.1% in the past 12 months.
Economists surveyed by MarketWatch were looking for a 0.1% gain on the CPI and for a 0.2% gain on the core CPI.
In December, the CPI rose 0.5%, while the core CPI was up 0.1%.
As expected energy prices declined, falling 1.5% after a 4.2% gain in December. Gasoline and natural gas prices fell 3%.
Food prices jumped 0.7%, the largest gain in nearly two years. Stormy weather in California destroyed some crops, helping to send vegetable prices up 1.9% and fruit prices up 1.5%. Dairy prices rose 1.3%.
Shelter prices rose 0.3%. Owners' equivalent rent, which represents nearly a fourth of the CPI, increased 0.2%, the smallest increase in a year. Rents rose 0.4%. Hotel fares increased 1.1%.
Medical care prices rose 0.8%, the most in 16 years. Prescription drug prices jumped 1.1%, also the biggest increase in 16 years after falling for three months in a row. Physician services prices rose 1.2%, the most in 26 years.
Apparel prices rose 0.3%
Transportation prices fell 0.8% on the drop in fuels. Airfares rose 2.1%, the most in more than two years. New car prices were unchanged.
Tobacco prices rose 3.1%, the biggest increase since mid-2002.
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