January CPI data comes in hotter than expected

January CPI data comes in hotter than expected

Rising housing and hotel prices deliver CPI surprise. Just how real is it? The cost of shelter - rents, homes and hotels - is one of the chief obstacles to the Federal Reserve's goal of driving U.S. inflation down to 2%. Shelter costs jumped 0.6% in January and bore the biggest responsibility for a stiffer rise in the consumer price index than Wall Street had expected. How believable was the increase? That's a different story. "Housing costs contributed significantly to …