Experts tell CBS News it's a sign high inflation still has a hold on the economy, despite the Fed's efforts to tame it.
Inflation is heating back up, with the Federal Reserve's inflation gauge rising the highest we've seen in months. Consumer prices continue to rise., despite the Fed's efforts to tame it.
Friday's report shows consumer prices up .6% from December to January, way up from the .2% increase the month before. On a year-over-year basis, prices are up 5.4%. A spokesperson for the Greater Chicago Food depository said their network of food banks served 24% more households last month than the same time last year, with grocery prices up nearly 12% over the last 12 months.
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