Thu 12-01-2023 22:15 PM
NEW YORK, 12th January, 2023 (WAM) –Annual US inflation fell to its lowest level in more than a year in December, indicating that price pressures have peaked amid the Federal Reserve’s historic tightening of monetary policy.
The consumer price index, published by the Bureau of Labor Statistics on Thursday, declined for a sixth consecutive month, recording an annual increase of 6.5 percent.
While still near a multi-decade high, this was the lowest level since October 2021 and represents a notable decline from the 9.1 percent reached in June. Compared with the previous month, prices dropped 0.1 percent.
Hatem Mohamed/ Khoder Nashar