The Consumer Price Index (CPI) rose 2.4% on a year-over-year basis in January, up from a 2.2% gain in December. Excluding gasoline, the CPI rose 2.0% in January. On a seasonally adjusted monthly basis, the CPI rose 0.1% in January, following a 0.4% increase in December. Gasoline prices increased by 11.2% year over year compared with January 2019, when oil prices were low as a result of a global supply glut. Gasoline prices rose with oil prices at the beginning of January 2020, due to concerns over global oil supplies in response to international political events. Later in the month, global oil prices fell following ... (full story)