With gasoline prices continuing to spike, the Labor Department released a report on Wednesday showing consumer prices in the U.S. increased in line with economist estimates in the month of January.
The Labor Department said its consumer price index rose by 0.3 percent in January after edging up by a revised 0.2 percent in December.
Economists had expected consumer prices to climb by 0.3 percent compared to the 0.4 percent increase originally reported for the previous month.
Excluding food and energy prices, core consumer prices came in unchanged for the second consecutive month. Core prices were expected to rise by 0.2 percent.
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