Inflation Increased For Fourth Straight Month

In January, consumer prices overall increased 3% from a year earlier.

Inflation increased for the fourth straight month amid another rise in food and energy costs.

In January, consumer prices overall increased 3% from a year earlier. That’s up from 2.9% the previous month.

The new mark is the most since June and is an increase from a 3 1/2 year low of 2.4% in September.

The cost of food has played a major role in the increase.

Food prices rose 0.4% after increasing 0.3% in December.

Grocery store prices surged as well with the cost of eggs soaring 15.2%, the largest increase since June 2015.

That accounted for about 2/3’s of the rise in prices at supermarkets.