Consumer prices in the United States rose less than forecast in January, Labor Department data showed on Thursday.
The consumer price index (CPI) saw a 0.1 percent surge in January, following a 0.2 percent increase in February, coming in below estimates of 0.2 percent rise. The year-on-year reading rose to 2.5 percent from a previous of 2.3 percent.
Core CPI- excluding volatile food and energy prices- showed a 0.2 percent surge, similar to forecasts, compared to December’s reading of 0.1 percent, while were 2.3% up year over year.
The dollar index
traded slightly lower at 98.86, but remained close to the session’s high of
98.93, which is the highest since October 2019.