US consumer inflation unexpectedly accelerated last month, data showed yesterday, in a moment of potential political peril for President Donald Trump, who quickly blamed the uptick on his predecessor Joe Biden. The consumer price
AFP | Washington
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US consumer inflation unexpectedly accelerated last month, data showed yesterday, in a moment of potential political peril for President Donald Trump, who quickly blamed the uptick on his predecessor Joe Biden.
The consumer price index (CPI) edged up to 3.0 percent in January from a year ago, rising slightly from 2.9 percent a month earlier, the Labor Department said in a statement.
This was slightly above the median forecast of 2.8 percent predicted by economists surveyed by Dow Jones Newswires and The Wall Street Journal.
“Overall, this is not a great read,” EY chief economist Gregory Daco told AFP. The cost of eggs and gasoline prices jumped last month, along with several other politically potent price points.
Any sustained uptick in inflation could cause a political headache for Trump who campaigned on a pledge to tackle inflation and the cost of living.
