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Inflation a touch softer in January

Feb. 17, 2012 at 10:03 AM

WASHINGTON, Feb. 17 (UPI) -- The January Consumer Price Index rose 2.9 percent from a year earlier, one tick lower than December's annual figure, the U.S. Commerce Department said Friday.

On a 12-month basis, food prices are up 4.4 percent and energy prices rose 6.1 percent. Like the total CPI, food and energy price gains on an annual basis are a slight drop from the annual gains posted in December.

Gas prices and fuel oil prices are up 9.7 percent and 12.1 percent, respectively, on a 12-month basis. The cost of clothing has risen 4.7 percent on an annual basis. Medical care services are up 3.7 percent from January 2011.

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