The U.S. Labor Department's Bureau of Labor Statistics reported this week that the consumer price index remained unchanged January for the second month in a row. Increases in housing, clothing, airfare costs, medical care and entertainment were offset by a seasonally adjusted decline in energy prices, the department said in a release.
Catalyst Strategic Solutions Chief Strategist Brian Turner said Friday that core prices, which exclude commodity-driven food and energy elements, rose 0.1%, the biggest monthly gain since May 2011, which follows a 0.1% increase in December.
"This shows the impact that a 1.7 % decline in energy prices has on the overall inflation reading," he said.
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