January 2025 CPI Report Inflation unexpectedly picked up in January, complicating the Federal Reserve’s efforts to bring price increases under control. The Consumer Price Index (CPI) rose 3.0 percent year-over-year, up from 2.9 percent in December, while monthly inflation surged 0.5 percent—the largest one-month gain since August 2023. Core CPI, which excludes volatile food and...