WASHINGTON (AP) — U.S. consumer prices were unchanged in January, as the rising costs of housing and health care were largely offset by cheaper oil.
Fed officials are increasingly unsure about the path of inflation after raising a key interest rate in December from a record low set in late 2008.
Top Fed policymakers have greater concerns about threats to U.S. economic growth coming from lower oil prices and slowing growth in China and other emerging markets, according to the minutes of their January meeting released Wednesday.
"Most participants indicated that it was difficult to judge at this point whether the outlook for inflation and economic growth had changed materially, but they thought that uncertainty surrounding the outlook had increased as a result of recent financial and economic developments," the minutes said.
