U.S. inflation accelerated last month as the cost of groceries, gas, and used cars rose, a disappointment for families and businesses struggling with higher costs and likely underscoring the Federal Reserve's resolve to delay any further interest rate cuts.

Rising costs of groceries, gasoline, and rents contribute to the unexpected boost in inflation, dampening business enthusiasm after Trump's election promises.

An inflation gauge closely watched by the Federal Reserve rose slightly last month, the latest sign that some consumer prices remain stubbornly elevated, even as inflation is cooling in fits and starts.

U.S. inflation accelerated last month as the cost of groceries, gas, and used cars rose, a trend that will likely underscore the Federal Reserve’s resolve to delay any further interest rate cuts.

A key government report showed inflation in the United States rose 0.5% in January, much more than expected. The January Consumer Price Index for January was released on Wednesday morning. The predictions were that inflation would come in at 0.