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New Consumer Price Index (CPI) data from the Bureau of Labor Statistics show consumer prices rose 0.5% in January and 3% from a year ago.

Wealth host Brad Smith discusses the specifics of how Americans' wallets were impacted by this inflation.

Grocery bills increased 0.5% month over month and 1.9% year over year. In particular, eggs rose 15% last month and 53% year over year. Other food items like orange juice and instant coffee saw price hikes, but cereal, bread, and vegetables dropped.

On a yearly basis, motor vehicle insurance increased nearly 12% and airfare prices surged 7%.

To watch more expert insights and analysis on the latest market action, check out more Wealth here.

This post was written by Josh Lynch