US inflation slows to 6.4%, but price pressures re-emerge

Mgn 1280x960 20713c00 Vkemv

The Associated Press

WASHINGTON (AP) – 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 showed that inflationary pressures in the U.S. economy remain stubborn and are likely to fuel price spikes well into this year.

Consumer prices rose 6.4% in January from 12 months earlier, down from 6.5% in December.

It was the seventh straight year-over-year slowdown and well below a recent peak of 9.1% in June.

On a monthly basis, though, consumer prices increased 0.5% from December to January, much higher than the 0.1% rise from November to December.

Read the full story on AP News right here.

(Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

2/14/2023 1:23:40 PM (GMT -6:00)

Categories: Regional and US News