Consumer Prices, U.s. Economy | featured news

U.S. consumer prices were flat last month, the latest sign inflation is in check. That could give the Federal Reserve leeway to continue its efforts to stimulate growth. The Labor Department says the consumer price index has risen 1.6 percent in the 12 months ending in January. That's down from a 2.9 percent pace a year ago.

U.S. consumer prices fell in November for the first time in six months, pointing to muted inflation pressures that should allow the Federal Reserve to stay on its ultra-easy monetary policy path as it nurses the economy back to health.

Rising food costs and higher rents offset a drop in gas prices last month, leaving consumer prices only slightly higher in October compared with the previous month.

Inflation has been running under 2 percent, yet an NBC News exit poll shows that 37% of voters say rising prices are their biggest problem, only slightly less than unemployment.