Gasoline prices jumped in January, leading overall consumer prices higher and offering a reminder of the risks energy costs pose to the economic recovery.
Despite the warning signal, overall consumer prices rose just 0.2 percent, the Labor Department said on Friday, which is unlikely to ring alarm bells at the Federal Reserve.
Strong jobs and factory data have eased worries U.S. economic growth could slow sharply, but tensions between Western nations and Iran still threaten to hand the economy a repeat of 2011 when a spike in energy prices hit the recovery hard.
Annual inflation on the rise in the GCC
A report by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf says that the GCC states showed annual inflation rates between 0.86 per cent and 3.6 per cent by the