Inflation surges in January by most in four years, CPI shows

• February 15, 2017
• realestate
• Business & Markets, Real Estate Finance

The prices Americans pay for goods and services surged in January by the largest amount in four years, mostly reflecting a rebound in the cost of gasoline that’s taking a bigger chunk out of household incomes. The consumer price index, or cost of living, rose by a seasonally adjusted 0.6% in January. Economists polled had predicted a 0.3% increase. As has been the case lately, A big increase in the cost of gasoline accounted for almost half of the increase in consumer inflation in January.