US inflation surged to 3% in January, driven by higher egg, gas, and essential item prices.

US inflation unexpectedly rose to 3% in January, higher than economists' predictions. The Consumer Price Index (CPI) increased by 0.5% from the previous month, with significant contributors being rising egg prices due to an avian flu outbreak, along with higher gas and other essential items. Despite the increase, the Federal Reserve is likely to hold off on interest rate cuts, indicating persistent inflationary pressures.

6 weeks ago
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