U.S. CPI rises 3.0% year-over-year in January, exceeding expectations

The U.S. Consumer Price Index (CPI) rose by 3.0% year-over-year in January, exceeding expectations of 2.9%, according to data from the U.S. Bureau of Labor Statistics shared by Investing.com. On a monthly basis, the CPI increased by 0.5%, exceeding market forecasts of 0.3%. The core CPI, which excludes the volatile food and energy sectors, climbed 3.3% year-over-year, slightly exceeding the anticipated 3.1%, and saw a monthly rise of 0.4%, rising above the expected 0.3%.