Official figures show that US petrol prices jumped 0.9% in January, pushing overall consumer prices up at their fastest rate in four months.
But the 0.2% increase in the Consumer Price Index reported by the Labor Department is not expected to ring alarm bells at the Federal Reserve, which is trying to decide whether the economy needs another dose of monetary stimulus.
The rise in prices was just below analysts' expectations of a 0.3% increase. The gain in petrol prices was the first in four months. Tensions in the Middle East have been pushing oil prices higher, leading to extra costs at the pump for Americans.
The Labor Department report showed that - after stripping out food and energy - the so-called core reading rose 0.2%, which was in line with expectations.
But the rate of core price increases in the twelve months to January unexpectedly climbed to 2.3%. The increase in the 12-month core reading, which is seen as a barometer of inflation trends, might be read as a sign that inflation pressures are not subsiding as quickly as expected.
Overall consumer prices rose at an annual rate of 2.9% after increasing 3% in December. That was in line with economists' expectations.
