Consumer Prices Rise More Than Expected

Washington, DC, February 20, 2008--Consumer prices rose more than expected in January due to significant increases in the cost of food and health care, the Labor Department said.

The Consumer Price Index rose 0.4 percent last month, matching the December increase.

Core inflation, which excludes food and energy, rose 0.3 percent, the biggest jump in seven months.

The higher than expected inflation reading could prompt the Fed to slow its rate of interest rate cuts.