US Annual Inflation Rate Jumps to 3 Percent for 1st Time Since June

Energy, food, and shelter pushed inflation higher in January.
US Annual Inflation Rate Jumps to 3 Percent for 1st Time Since June
People shop on Black Friday at a mall in Hanover, Md., on Nov. 29, 2024. Madalina Vasiliu/The Epoch Times
Andrew Moran
Updated:
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U.S. inflation rose for the fourth consecutive month, reaching its highest level since June 2024, as price pressures continue to be elevated on higher shelter, energy, and food costs.

According to the Bureau of Labor Statistics, the annual inflation rate increased to 3 percent in January, up from 2.9 percent in December.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."