The latest CPI report reveals a 3% increase in prices compared to last year, with eggs being just one of the many items seeing higher costs. CBS News Moneywatch correspondent Kelly O'Grady breaks down the key takeaways from the report.

Inflation accelerated in January, rising 3% on an annual basis, indicating that the Federal Reserve's push to drive inflation down to a 2% annual rate has stalled out, at least temporarily. The Consumer Price Index was forecast to rise 2.

The Consumer Price Index for All Urban Consumers increased 0.5% on a seasonally adjusted basis in January, after rising 0.4% in December, the U.S. Bureau of Labor Statistics reported today.

The arguably more important measure of core inflation, which excludes price changes in the often volatile food and energy categories, increased 3.3% year-over-year in January, higher than forecasts of 3.1%. And core prices rose 0.4% from December to January, compared to estimates of 0.3%.

U.S. consumer prices rose by more than expected in January, driven by a sharp increase in egg prices amid an outbreak of bird flu, the U.S. Bureau of Labor Statistics reported Wednesday.

The Feb. 12th CPI report exceeded expectations, causing market turbulence, confirming warnings about rising inflation trends. Click for more on the U.S. economy.

New numbers from the January consumer price index report show a rise in gas, eggs and coffee prices. NBC News’ Brian Cheung and Investopedia’s Editor-in-Chief Caleb Silver break down the inflation numbers,

January inflation ran hot, and the odds of Fed interest rate cuts fell as Consumer Price Index total CPI inflation accelerated to 3.0%, the highest rate since June 2024.

Inflation picked up for a fourth straight month in January amid another rise in in food and energy costs, possibly setting the stage for a year of halting progress in the battle to slow consumer price increases as President Trump rolls out myriad import tariffs.