In January, inflation decreased to 6.4%.

Consumer inflation eased in January but remained higher than many economists expected, driven by higher prices for housing, gasoline and natural gas.

The consumer price index, a broad basket of goods and services, rose an annualized 6.4% in January, the Labor Department reported informed Tuesday.

Economists expected the index to grow by 6.2%.

Core inflation, which excludes volatile food and energy costs, rose 5.6% year-on-year, also higher than economists had forecast.

This is a developing story.