Fuel price rises send inflation up to highest level since June 2014

The increase reflects the timing of the Lunar New Holiday which began in the final week of January.

In the 12 months through January, the CPI increased 2.5 percent, the biggest year-on-year gain since March 2012.

According to the department's Bureau of Labor Statistics, consumer prices rose 0.6 percent last month, the most since February 2013, and twice what economists were expecting.

Against the year ago month, the cost of living was 2.5% higher, up from 2.1% in the prior month (consensus: 2.4%). "Higher global commodity prices will get ingrained in these components while food items will be unaffected", it said in its CPI inflation report.

Toshiba facing bankruptcy, total disintegration thanks to bad bets on nuclear power
Shares in the firm have nearly halved since the end of December, when Toshiba first flagged huge losses in its atomic unit. According to Tokyo Stock Exchange rules, Toshiba had until noon today to deliver its quarterly financial results.

The figures were largely affected by the annual Lunar New Year holiday, which caused prices of fruit and vegetables to rise while a surge in travel sent the cost of flights and hotels up, Sheng said.

Non-food inflation increased by a smaller 0.7% over the same period, building upon the 0.2% lift seen in December.

The PBOC in the past weeks raised interest rates in some of its lending facilities and open market operations to control risks from rapid credit growth, signaling a tighter policy stance on risk control.

Fed Chair Janet Yellen told lawmakers on Tuesday that "waiting too long to remove accommodation would be unwise".

Venezuelan VP calls USA sanctions an 'attack'
The companies make up an global network spanning the British Virgin Islands, Panama, Britain, the United States and Venezuela. He made a name for himself in Venezuela by cracking down on drug gangs.

However, the move came in shy of the Bank of England's 2 per cent target and economists' expectations of 1.9 per cent. In a sign of resilient demand among consumers, retail sales climbed 0.4 percent, Commerce Department data showed. That followed a 2.4 percent increase in December. Grocery prices were unchanged, but the cost of eating out rose 0.4 percent. The pace of food deflation has eased off for four consecutive months. It edged up by 18.14 per cent, as compared to a rise of 8.65 per cent reported during the last month of 2016 and (-) 9.89 per cent in January.

Core inflation that excludes energy, food, alcoholic beverages and tobacco, held steady at 1.6% in January.

It means a basket of goods and services priced at £100 a year ago would now cost £101.90. Motor vehicle prices shot up 0.9 percent, the largest rise since November 2009.

Suspect taken into custody for Karina Vetrano's murder
Vetrano's parents spoke out Thursday, trying to renew momentum in the case on the six-month anniversary of the murder. Investigators believe Lewis grabbed Vetrano while she jogged at the park, the television station reports.


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