Mumbai, Feb. 16 -- The Labor Department released a highly anticipated report on Friday showing consumer prices in the U.S. increased by slightly less than expected in the month of January.
The report said the consumer price index rose by 0.2 percent in January after climbing by 0.3 percent in December.
The annual rate of growth by consumer prices slowed to 2.4 percent in January from 2.7 percent in December, coming in below estimates of 2.5 percent.
The Labor Department said the modest monthly increase by consumer prices largely reflected higher shelter costs, which grew by 0.2 percent in January.
Food prices also rose by 0.2 percent in January, although the increases in food and shelter costs were partly offset by a 1.5 percent slump i...