US consumer prices go up

February 18th, 2012 - 2:08 pm ICT by IANS  

Washington, Feb 18 (IANS) Consumer prices in the US ticked up 0.2 percent in January, reported the Labor Department Friday.

The Consumer Price Index (CPI), which tracks inflation at the retail level, remained unchanged in December 2011, reported Xinhua.

The report said that energy prices rose 0.2 percent in January. Gasoline prices rose 0.9 percent while food costs rose 0.2 percent last month.

Excluding the volatile food and energy categories, the so-called “core” index edged up 0.2 percent in January. The “core” index rose 2.3 percent in the past 12 months ending in January.

Economists monitor core prices to get a sense of broader inflation trends, a key barometer for monetary policy decision.

US Federal Reserve Chairman Ben Bernanke said earlier this month that the inflationary pressure in the US would remain tamed in the near term.

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