US 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. The consumer price index increased 3% in January from a year ago, Wednesday's report from the Labor Department showed, up from 2.9% the previous month. It has increased from a 3.5-year low of 2.4% in September. The figures show that after inflation steadily declined in 2023 and for much of last year, it has remained stubbornly above the Fed's 2% target for roughly the past six months, reports the AP. Seven things you need to know: