Inflation Rises More Than Expected

“Inflation turned higher to start 2023, as rising gas and fuel prices took their toll on consumers,” CNBC reports.

“The consumer price index, which measures a broad basket of common goods and services, rose 0.5% for the month, which translated to an annual gain of 6.4%. Economists surveyed by Dow Jones had been looking for respective increases of 0.4% and 6.2%.”