Axios reporter Marc Caputo said that the lackluster numbers are a “warning sign” for Trump. But the president quickly sought to blame former President Joe Biden for the rising costs of groceries, gas, and used cars. “BIDEN INFLATION UP!” Trump wrote Wednesday on Truth Social.

US consumer inflation unexpectedly accelerated last month, data showed Wednesday, in a moment of potential political peril for President Donald Trump, who quickly blamed the uptick on his predecessor

US wholesale inflation remained stubbornly elevated last month, another sign that even higher prices could be ahead for American shoppers.

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.

The Labor Department reported Thursday that its producer price index — which tracks inflation before it reaches consumers — rose 0.4% from December and 3.5% from January 2024.

The Consumer Price Index for All Urban Consumers increased 0.5% on a seasonally adjusted basis in January, after rising 0.4% in December, the U.S. Bureau of Labor Statistics reported today.

Inflation picked up more than expected in January, returning to a 3% rate for the first time in seven months. The continued stalled progress on taming price growth will keep central bank officials from lowering interest rates and could even raise the specter of rate hikes.