The Consumer Price Index (CPI) rose by 0.5% in January, surpassing the 0.4% increase from December and exceeding the expected 0.3% rise. This data was released by the U.S. Bureau of Labor Statistics. On an annual basis, the CPI climbed to 3.0%, up from 2.9% the previous month and above the consensus estimate of 2.9%. These figures indicate a faster pace of inflation than anticipated.
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