Annual inflation in the US slowed to 6.4%
Consumer prices rose 0,5% in January and 6,4% year over year, according to the Labor Department's released index. Core inflation, which does not take into account volatile food and energy prices, was 0,4% month-on-month and 5,6% year-on-year. The rate of price growth in January accelerated compared to December, when prices rose by 0,1%. In January, food prices rose 0,5% and housing costs rose 0,7%, accounting for the bulk of the increase.
There is a reported spike in inflation that could prompt the Federal Reserve to raise interest rates further. Annual inflation continues to decline from a high of 9,1 in June, but data for January was higher than the forecast of 6.2%.
Source: Telegram channel “House of Cards”
