The Consumer Price Index rose 0.5%, while a measure that strips out energy and food rose 0.4%, the Labor Department said on Wednesday. Why it matters: It's a warning to the White House and the Fed about inflation's potential staying power across the economy.

Another month, another expected miss for inflation as it relates to the Fed's goal, with concerns aplenty about what happens from here.

Americans are facing higher costs. Trump was elected on promises to lower prices for inflation-weary consumers and high inflation could imperil his agenda.