Consumer prices rose 6.4% in January from a year earlier, the seventh consecutive year-over-year slowdown. Gasoline, food, and clothing prices drove inflation, while wages rose 5%. The Fed has aggressively raised its benchmark interest rate in the past year to combat inflation. It is likely to continue increasing rates, potentially to 5.25%, to reach its 2% inflation target.
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Consumer prices rose 6.4% in January from a year earlier, the seventh consecutive year-over-year slowdown. Gasoline, food, and clothing prices drove inflation, while wages rose 5%. The Fed has aggressively raised its benchmark interest rate in the past year to combat inflation. It is likely to continue increasing rates, potentially to 5.25%, to reach its …
The post US inflation slows to 6.4%, but price pressures continue appeared first on WhatsNew2Day. WhatsNew2Day
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