The Federal Reserve can probably take last month’s bump up in inflation in stride. That doesn’t mean it shouldn’t care about it. The Labor Department on Tuesday reported that overall consumer prices rose a seasonally adjusted 0.5% in January from December and it revised December’s monthly change from down 0.1% to up 0.1%. Core prices, which exclude the often volatile food and energy categories in an attempt to better capture inflation’s trend, rose 0.4% in January, with December’s gains revised to 0.4% from 0.3%.
Source: WSJ.com: Markets
