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Consumer prices increase in January

Posted On Fri, February 24, 2012

A recent report from the U.S. Department of Labor showed that consumer prices increased 0.2 percent during the month of January.

At the forefront of the increases is energy prices, which rose 0.2 percent during the month, according to the report. This was the first jump since the early fall. Core CPI also rose by 0.2 percent, which was on point with increases since the middle part of last year.

In total, the CPI has risen 2.9 percent year-over year, the report noted. The core CPI has risen 2.3 percent year-over-year. This increase is the largest that has been witnessed since September 2008. Inflation reached an annual rate of 3.9 percent during September 2011.

Consumers who are witnessing more difficulty paying for items - especially gasoline - may want to try to lower costs in other aspects of life. One way to do this is to make sure their auto insurance rates are as low as they should be. A consumer can find this out by comparing auto insurance quotes.

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