The Consumer Price Index (CPI) is up 7.5% year-over-year, which is impacting the cost of goods across a variety of sectors.
According to the Bureau of Labor and Statistics, the CPI for all goods less food and energy rose 0.6% in January, the same increase as in December. This was the seventh time in the last 10 months it has increased at least 0.5%. Along with the index for shelter, the indexes for household furnishings and operations, used cars and trucks, medical care and apparel were among many indexes that increased over the month.
