The consumer price index increased 0.3% last month, the Labor Department reported today. It was the first increase after three consecutive months of declines preceded by two months in which the CPI was unchanged.
The CPI had fallen 0.8% in December. Consumer prices were unchanged from January 2008.
Excluding food and energy costs, the CPI increased 0.2% in January after being unchanged in December.
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Energy prices fell 1.7% in January, compared with a 9.3% drop in December and a 20.4% decline in the last year. Transportation prices increased 1.3% in January and fell 12.6% for the last year.
In January, food and beverage prices increased .1% and have increased 5.2% over the last year. Housing prices were unchanged for the second consecutive month though rose 2.2% during the last year. Medical care increased 0.4% last month and rose 2.6% in the last year. Education increased 0.3% in December and 3.6% during the past 12 months.
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