| Berkshire Hathaway’s Charlie Munger spoke at the annual meeting of the Daily Journal, the L.A. Newspaper that he chairs. CNBC’s “Squawk Box” crew reports.
U.S. underlying consumer prices picked up in January as households paid more for rents and clothing, supporting the Federal Reserve’s contention that inflation would gradually rise toward its 2% target. The Labor Department said on Thursday its consumer price index excluding the volatile food and energy components rose 0.2% last month after edging up 0.1% in December. The so-called core CPI was up by an unrounded 0.2423% last month. Underlying inflation in January was also lifted by increases in the prices of airline tickets, health care, recreation and education. In the 12 months through January, the core CPI increased 2.3%, rising by the same margin for four straight months. The Fed tracks the core personal consumption expenditures (PCE) price index for its 2% inflation target. The core PCE price index rose 1.6% on a year-on-year basis in December. It undershot its target in 2019. January PCE price data will be published later this month. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://www.cnbc.com/pro/?__source=youtube » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online #CNBC |
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