Inflation Drops to 2.4%

“Beware of little expenses; a small leak will sink a great ship.” — Benjamin Franklin

The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2% on a seasonally adjusted basis in January. Over the last 12 months, the all-items index increased 2.4% before seasonal adjustment. The index for shelter rose 0.2% in January and was the largest factor in the all-items monthly increase. The increases were partially offset by the index for energy, which fell 1.5% in January.