It’s not just eggs. Many commonly purchased goods and services got more expensive in January, driving inflation in the wrong direction and to its highest rate since June of last year.

Consumer prices rose 3%, extending a recent pattern of increases at the start of the year that likely derails the prospect for Federal Reserve rate cuts anytime soon.

US inflation unexpectedly increased to 3 per cent in January, bolstering the case for the Federal Reserve proceeding slowly with interest rate cuts and hitting stocks and government bonds. Wednesday’s consumer price index figure surpassed the expectations of economists polled by Reuters,

President Trump Wednesday blamed Biden for a hot inflation report and called for lower interest rates. The Fed is likely to keep them higher for longer if prices keep rising.

U.S. stocks ended little changed but up on the week. Relief that Trump delayed reciprocal tariffs overshadowed weak retail sales and hot inflation.

On a monthly basis, the inflation measure rose 0.4%, exceeding forecasts for 0.3%.Trump regained the White House vowing to lower prices "immediately," promising voters on the campaign trail that he'd begin doing so "starting on day one.

Discover how rising inflation threatens economic growth, stock prices, and monetary policy under Trump's initiatives.

U.S. wholesale prices came in hotter than expected last month at a time when progress against inflation appears to have stalled, undercutting expectations for lower interest rates this year.

U.S. wholesale prices came in hotter than expected last month at a time when progress against inflation appears to have stalled, undercutting expectations for lower interest rates this year. The Labor Department reported Thursday that its producer price index — which tracks inflation before it reaches consumers — rose 0.

Wholesale prices rose more than expected in January — one day after government data showed the pace of inflation for US consumers rose unexpectedly last month. The Labor Department’s Producer Price Index soared 3.