WASHINGTON (AP) — U.S. consumer prices rose 0.3% in January, led by a surge in energy. But even though the gain was the biggest monthly increase since July, inflation gains over the past year have remained modest.The Labor Department reported Wednesday that the January rise in consumer prices followed 0.2% gains in both November and December and was the sharpest jump since prices rose 0.5% in July, a month when the country was re-opening following the coronavirus lockdowns in the spring. Over the past year, inflation is up a modest 1.4%. Core inflation, which excludes volatile food and energy costs, is also up 1.4% with core prices unchanged in January. Energy costs jumped 3.5%, led by a 7.4% surge in gasoline. Even with the spike, gasoline prices are 8.7% below where they were a year ago.
