FXstreet.com (Barcelona) - Consumer prices have posted a sharp jump in January in the US fuelled by energy and food prices, according to the latest report released by the US Department of Labor.

Consumer prices have risen 4.3% in January from the same month on the previous year, while excluding energy and food, prices have increased 2.5% on the year.

On the month, Consumer prices have increased 0.4% in a seasonally adjusted basis, with both energy and food prices increasing 0.7% on the month, following decreases of 0.1 and 1.7% respectively in December. Excluding food and energy, consumer prices increased 0.3% on the month.