Inflation climbed to 6.4% in January year-over-year, sending stocks to fall in Tuesday's session.

Closing Bell

Dow Falls After January CPI Ticks Up

The inflation picture does remain murky on the positive side, price gains have eased a bit from the same time a year ago, but price pressures do remain and they could easily fuel spikes into this year, bigger price gains, that's the concern. So, consumer prices rising 6.4% in January from the same time a year ago, well above the Fed's 2% target And from December to January on a month over month basis, prices climbed half of a percent, much higher than the 0.1% expected. So this is the big dilemma that the Fed faces. In fact, it's slowed the pace of rate hikes. We saw that in its latest meeting, but higher borrowing costs are still on the table as price gains have proven stubborn to lower 6.4%, that's still well above that 2% long-term target. So higher costs, as you see for gas, food, housing and clothing, driving up inflation in january the same month that the economy added more than half a million jobs, shocking economists how good it was and adding to inflationary pressures? Well, the challenges that price gains remain elevated for everyday essentials for going on two years now causing americans to increasingly turn to credit cards with record high rates just to get by