Rents rose 0.5% last month in another of a series of sharp increases since last summer. The cost of rent — the biggest expense for many households —has jumped almost 4% in the past year. Food prices also increased again, up almost 1% in January. The cost of groceries have climbed 7.4% in the last 12 months — a 14-year high. Dairy and fruit showed the biggest increases last month. Energy prices rose almost 1% last month due to a large spike in the cost of electricity. Cold weather also boosted demand. Gas and natural gas prices fell slightly, but the respite for consumers probably won’t...
U.S. Inflation Climbs To 7.5%
