Inflation in the vegetable segment slowed to 26.97 per cent. Prices of fruits, too, rose at a lower pace of 6.24 per cent last month.
Ben Brettell, senior economist at Hargreaves Lansdown, said following the latest inflation: "Inflation's now been above target for 12 straight months". Smartphone prices will be adjusted to account for more rapid technological advancement, while the cost index for used cars and trucks will change from a three-month moving average to a single month price change.
The dollar.DXY rallied against a basket of currencies. The fear was that strong inflation would lead to higher interest rates, raising borrowing costs for both individuals and corporations.
That would slow economic growth.
In the long run, "inflation is probably heading higher", Lewis Alexander, Nomura's chief economist, said in a preview.
"The Fed's task is complicated by the recent tax cuts and spending deal, which will stimulate the economy at a time when the labor market is already at, or close to, full employment".
Excluding the volatile food and energy components, the CPI shot up 0.3 percent.
The consumer durables have recorded growth of 0.9 per cent in December 2017. The year-on-year rise in the so-called core CPI was unchanged at 1.8 percent in January, also because of less favourable base effects. Only six of 70 economists surveyed by Bloomberg predict a 0.3 percent monthly gain in January CPI, above the median.
The core CPI is viewed as a better measure of underlying inflation trends.
However, the decline in Treasury prices, which move inversely to yields, was being limited by safe-haven bids as US stocks fell in the wake of the inflation data.
FILE PHOTO: A woman shops at an H&M store in New York City, U.S. December 23, 2017. The report sent Treasuries and stocks tumbling, as it added to concerns about an inflation pickup that have roiled financial markets this month.
US 2-year yields, in the maturity most sensitive to rate hike expectations, advanced to a two-week high of 2.159 percent, compared with 2.106 percent on Tuesday.
There is also a roughly 50% chance of a further increase in rates to 1% by the end of the year - a level last seen in 2009.
Inflation shows a slight slowdown for January giving a sign of relief for consumers.
Gasoline prices rose 5.7 percent last month, pushing up the headline index. However, we believe a large amount of improvement in consumer demand is likely to further rely more on imports rather than substantial pick-up in the domestic production.
Tobacco costs, meanwhile, grew faster at 0.4% month on month which was likely due to the remainder of duty price hikes coming through after being introduced in November.
Month-on-month, output prices edged up 0.1 percent and input prices climbed 0.7 percent.
He worked with Peyton Manning while on Tony Dungy 's staff back in 2008 and stayed with the Colts until 2011. Although Reich did not call plays himself in Philadelphia this season, he was vitally important to the team.
Speaking to Vogue , Victoria Beckham (aka, Posh Spice) revealed that the plans of touring were completely fabricated. I still speak to them all separately, but for us, all to get together was super lovely'.
A surge in prescriptions of opioids followed the 1995 release of the drug when about 90 million opioid prescriptions were filled. Purdue Pharma pleaded guilty in 2007 to felony charges for false marketing of OxyContin and paid $635 million as a result.
Pierre-Emile Hojbjerg had the hosts' best chance for an instant reply when he fired too close to Karius at the back post. Liverpool were able to coast throughout the second-half as Loris Karius remained largely untested.
Kane nodded in his 32nd goal of the season from Ben Davies' cross to secure a deserved 1-0 Wembley victory. If it is an opportunity we have to try to take it as well, but the priority remains the Premier League ".
She was branded a traitor to Islam and her homeland, accused of blasphemy, attacked by angry mobs and thrown into prison. In Pakistan , she was awarded the Hilal-i-Imtiaz and the Sitara-i-Imtiaz, the second and third highest civilian honours.
The expanded feature aims to take the hassle out of firing back replies in a range of popular messaging apps, including WhatsApp . The feature will also a Vacation Responder that checks user's calendar on their behalf to tell people if they aren't working.
Some Republicans have claimed the Democratic memo involved more substantial information about law enforcement sources and methods. Trump's refusal to approve the Democrats' memo conflicts with the White House's previous position on the Republican memo.
The stock of Turquoise Hill Resources Ltd. (NYSE:TRQ) has "Hold" rating given on Wednesday, August 17 by Canaccord Genuity. Citizens & Northern Corp boosted its position in shares of Coca-Cola Company (The) by 3.8% in the fourth quarter.
The House of Representatives voted 240-186. "We have always said nothing is agreed to until everything is agreed to". That move is used in the Senate to delay or block legislation, and there isn't a House equivalent.
Mkhitaryan struggled during Arsenal's 1-0 loss to Tottenham , and made no impact on the match, like all of his teammates. The win takes them to within five points off a top-four spot, with a game against Tottenham scheduled for later today.
The tweets were sent throughout 2017 and reportedly, the NSA officials would tell the Russian to expect public tweets in advance. However, the N.S.A. told the NYT that "all N.S.A. employees have a lifetime obligation to protect classified information".