Consumer Prices Rose 0.7%

Washington, DC, February 22, 2006–Consumer prices increased a larger-than-expected 0.7% in January, led by higher energy, food and housing costs, according to the Labor Department.

The core consumer price index – which excludes food and energy prices – increased 0.2%, as expected.

Economists had expected the CPI to rise 0.5% in January.

After two months of declines, energy prices rose 5% in January. Food prices rose 0.5%. Housing prices increased 0.5%.