Price increases continued to ease in December, marking the sixth consecutive month of a decrease in the pace of price increases. In October, CPI rose 0.1% on a month-to-month basis, and it rose 0.4% on a monthly basis in October. Heather Long, an economic columnist for The Washington Post, noted the month-to-month CPI data marked the first decline since the spring of 2020. JUST IN: More good news on inflation — US inflation was +6.5% in December (y/y), down from 7.1% in Noveber and 9.1% in June. As The Wall Street Journal notes, “The Federal Reserve increased interest rates aggressively in 2022 to combat inflation by slowing the economy.

Source: Washington Post January 12, 2023 16:01 UTC