The annual rate of inflation slowed to an eight-month low last month, new data showed Friday.
Consumer prices rose 2.4% for the 12 months ended in January, a sharp cooling from the 2.7% rate notched in December, according to the Bureau of Labor Statistics’ latest Consumer Price Index.
On a monthly basis, prices rose a better-than-expected 0.2%, a deceleration from December.
Economists had forecast a 0.3% monthly increase, which would bring the annual rate to 2.5%, an expectedly cooler reading that benefited from “base effects,” or comparisons to last year when inflation was running higher.
Inflation will always exist; the increase in prices for consumers is constant, which diminishes their purchasing power, and often the consumer doesn't even realize it. Are these figures manipulated or are they truly real? Are you a consumer in the United States?
Only 20% over target!
Inflation will always exist; the increase in prices for consumers is constant, which diminishes their purchasing power, and often the consumer doesn't even realize it. Are these figures manipulated or are they truly real? Are you a consumer in the United States?