Prices Up
The Consumer Price Index, a measure used to gauge inflation, rose 0.3 percent in January, according to the U.S. Labor Department, which said the increase—the largest since last April—was primarily caused by rising energy prices. The CPI, readjusted to exclude fluctuating energy and food prices, rose only 0.1 percent in January. The news followed a Department of Labor announcement stating that the Producers Price Index, which measures wholesale prices, rose 1.6 percent in January, sparking fears of price inflation in an already weak economy. The modest increase in CPI has—for now—quelled those inflationary concerns.
