US inflation slows to 6.4% but price pressures remain
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Loading... - Georgia Campbell
- 24 Feb 2023
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Govt’s consumer price report shows inflationary pressures remain stubborn and are likely to fuel price spikes this year.
The pace of consumer price increases eased again in January compared with a year earlier, the latest sign that the high inflation that has gripped Americans for nearly two years is slowing.
At the same time, Tuesday’s consumer price report from the government showed that inflationary pressures in the US economy remain stubborn and are likely to drive price spikes well into this year.
Consumer prices rose 6.4 percent in January from 12 months earlier, down from 6.5 percent in December. It was the seventh straight year-over-year slowdown and well below a recent peak of 9.1 percent in June. Yet it remains far above the Federal Reserve’s 2 percent annual inflation target. Read More…
