The report from the U.S. Bureau of Labor Statistics follows a slight acceleration of price increases in December. That jump in inflation had complicated the Federal Reserve's plans to deescalate its inflation fight with a series of interest rate cuts this year. The blockbuster performance, however, could pose a challenge for the inflation fight taken up by policymakers at the Federal Reserve. Story continuesSpeaking in Washington, D.C., late last month, Fed Chair Jerome Powell celebrated the steady decline of inflation over recent months and welcomed the robust hiring occurring alongside it. Inflation fell markedly in January but still higher than expected, latest data shows originally appeared on abcnews.go.com

Source: ABC News February 13, 2024 21:57 UTC