U.S. inflation accelerated last month as the cost of groceries and gasoline 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 1/2 year low of 2.4% in September. The figures underscore the stickiness of inflation, which created a major political problem for former President Joe Biden. N.C. State Economics Professor Emeritus Mike Walden joined Jeff Hamlin to discuss the impact increased inflation will have on the American consumer.