Clothing and car insurance prices drive inflation
WASHINGTON (AP) — U.S. consumer prices, excluding the volatile food and energy categories, rose 0.3 percent last month. That was the biggest climb in a year and is likely to fan inflation fears in financial markets.
The Labor Department says overall consumer prices rose 0.5 percent in January, the most in four months. Inflation rose 2.1 percent from a year earlier and core prices increased 1.8 percent. The increases were led by much higher clothing costs and more expensive car insurance.