The Consumer Price Index rose 0.5%, while a measure that strips out energy and food rose 0.4%, the Labor Department said on Wednesday. Why it matters: It's a warning to the White House and the Fed about inflation's potential staying power across the economy.

The Consumer Price Index rose month-to-month and year-over-year, both surpassing expectations with increases in shelter, food and core inflation.

U.S. consumer prices increased more than expected in January, reinforcing the Federal Reserve's message that it was in no rush to resume cutting interest rates amid growing uncertainty over the economy.