Washington, Feb 10 (AFP/APP):Gasoline prices rose again in January, but they remain well below last year’s level and overall inflation in the United States continues to be tame, according to government data released Wednesday.
The overall Consumer Price Index (CPI) rose just 0.3 percent compared to December, the Labor Department reported, despite a 7.4 percent jump in pump prices for fuel.
And “core” CPI excluding volatile food and energy prices was unchanged for the second straight month, the report said.
While shoppers might revel in low prices, too-low inflation is a concern for the Federal Reserve as central bankers fret over the state of the US recovery as it recover from the Covid-19 crisis.
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