Inflation in the United States fell for a sixth straight month, after hitting a 40-year high.
The consumer price index in the US in December, as expected by experts, rose by 6.5% in annual terms. This is the smallest increase since October 2021. At the same time, a month earlier, this number was 7.1%. This is confirmed by data from the website of the US Department of Labor, published on Thursday, January 12.
So, on a monthly basis, consumer prices fell 0.1% in December after rising 0.1% in November.
The numbers signaled the sixth consecutive month of declining US inflation after last year’s 40-year high.
However, inflation is still above the 2% target.
The authorities consider these numbers as confirmation that the policy of raising the base interest rate of the US Federal Reserve System (FRS), which acts as the country’s central bank, is bearing fruit and the economy is stabilizing this year.
Recall that the US Federal Reserve raised the interest rate on federal loans by 50 basis points, to 4.25-4.5% per annum.
It was previously reported that the stock index S & P500 fell to the lowest level in almost two years. This is due to concerns about the aggressive policy of the US Federal Reserve.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.