(MENAFN- Kuwait News Agency (KUNA)) WASHINGTON, Feb 14 (KUNA) -- The US Consumer Price Index (CPI), a key indicator of inflation, increased 0.5 percent in January while the all items index rose 2.1 percent over the last 12 months, according to official figures.
The Department of Labor noted in a report that the increase in the all items index was "broad-based," with increases in the indexes for gasoline, shelter, apparel, medical care and food "all contributing." The index for all items less food and energy increased 0.3 percent in January.
The all items index rose 2.1 percent for the 12 months ending January, the same increase as for the 12 months ending December.
Meanwhile, the index for all items less food and energy rose 1.8 percent over the past year, while the energy index increased 5.5 percent and the food index advanced 1.7 percent.
According to reports, with these higher than expected increases and if the inflation continues to "pick up", the Federal Reserve is expected to increase interest rates at least three times this year. (end) si
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