By Rex Nutting, MarketWatch


U.S. consumer prices increased a larger-than-expected 0.7% in January, led by higher energy, food and housing costs, the Labor Department said Wednesday.


The core consumer price index — which excludes food and energy prices — increased 0.2% last month, as expected.


The increases in the seasonally adjusted CPI should keep the Federal Reserve on course to raise its overnight interest-rate target to 4.75% in late March. Additional rate hikes will likely remain under consideration by Fed policymakers.


For this complete story, please visit Core U.S. Consumer Inflation Rises 0.2%, as Expected.


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