Several analysts downplayed the larger-than-expected rise in core consumer prices (0.4%), citing it as the "January effect." Several companies typically raise prices at the start of every year, mainly in the services sector (medical, health insurance, transportation, recreation. etc.) . Yet, that annual price increase is captured in the seasonal factors, which dumbs down the rise. Unadjusted core consumer prices rose 0.6% in January, services less of rental shelter rose 0.9%, and one core measure total less food, energy, shelter, and used cars rose 0.7%. The bottom line is that there is a lot of inflation under the hood or hidden from seasonal factors.