The January reading of the consumer-price index is due at 8:30 a.m. ET. Economists expect the CPI increased 2.9% from a year earlier, the same rate seen in December. With that in mind, here's how infl

Inflation rose unexpectedly in January, with the Consumer Price Index rising 3% over the last 12 months, up from 2.9% in December. Forecasters had expected inflation to slow down, but prices for food, gas, and housing pushed the inflation rate out of the 2% range for the first time since May.

US inflation accelerated last month as the cost of groceries, gas, and used cars rose, a trend that will likely underscore the Federal Reserve’s resolve to delay any further interest rate cuts. The consumer price index increased 3% in January from a year ago,