“Core” C.P.I., which more closely reflects underlying inflation by removing volatile food and energy prices, also showed little improvement. It rose 0.4 percent from December or 3.3 percent on a year-over-year basis, both higher than economists expected. The monthly increase in core prices was the highest since April 2023.

US inflation increased by more than expected last month, as higher egg and energy prices helped to push up the cost of living for Americans. Inflation rose to 3% in January, its highest rate for six months, and above the 2.9% expected by economists.