CPI for January in the U.S. up 0.4%, with core rising by 0.3% (MarketWatch) (20-02-2008)

WASHINGTON (MarketWatch) - The Labor Department announced on Wednesday that the underlying rate of U.S. inflation rose in January.

The consumer price index was up by 0.4% in January, rising by 0.7% gains due to energy and food prices.

But other prices were also higher. The core CPI, which excludes food and energy costs, rose by 0.3% in January, the largest gain since June 2006.

Economists were expecting the CPI to rise 0.3% in January after a 0.4% gain in December. The core rate was expected to rise 0.2% after rising 0.2% in the previous month.

Source: MarketWatch