Inflation was up in January

According to MarketWatch, the underlying rate of U.S. inflation accelerated in January. MarketWatch, reporting on statistics released by the US Department of Labor said that the consumer price index increased 0.4% in January, driven by 0.7% gains in both energy and food prices. The core CPI (Consumer Price Index), which excludes food and energy costs, was also up 0.3% in January. MarketWatch reported that this was the largest gain since June 2006. Economists were expecting the CPI to rise 0.3% in January after a 0.4% gain in December. The core rate was expected to rise 0.2% after rising 0.2% in the previous month. What does this rise in inflation mean for you? In the short term, rising prices may continue to stimulate the Federal Reserve to control interest rates downward. So you can expect your credit card interest to at least stay where it is or go a little later for the moment.