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

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.

The producer price index for final demand rose 0.4% last month after an upwardly revised 0.5% gain in December, the Bureau of Labor Statistics said on Thursday.

Inflation in the US rose more than expected in January, reinforcing expectations that the Federal Reserve may delay interest rate cuts. The consumer price index (CPI), which tracks the cost of goods and services across the economy,