Core inflation rises by the most in four years

Core inflation rose by the most in four years in January, by 0.3%.

"Core" inflation excludes the volatile costs of food and energy.

An increase in core inflation offset a decline in the energy index, causing the headline consumer price index (CPI) to be flat, according to the Department of Labor. Headline CPI beat the forecast for a 0.1% decline.

Compared to the prior year, CPI rose 1.4% (1.3% expected).

Core CPI rose 2.2% compared year-on-year, beating the estimate for a 2.1% increase.

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