The US consumer price index for January was released, and it rose 6.4% compared to the same month of the previous year, marking the seventh consecutive month that the growth rate has fallen below the previous month.
FRB = It will be interesting to see how the Federal Reserve Board will decide to raise interest rates in the future based on price trends.
The US Labor Department announced on the 14th that January's consumer price index rose 6.4% compared to the same month of the previous year.
Growth slowed for the seventh straight month, below the previous month's 6.5%, but was slightly above market expectations.
In addition, the growth rate compared to the previous month was 0.5%, expanding again.
By item, used car prices fell compared to the same month of the previous year, while a wide range of items, including food prices, housing costs, and electricity bills, rose.
On the other hand, the price index, which excludes the highly volatile food and energy prices, rose by 5.6% from the same month of the previous year, marking the fourth straight month of contraction.
The Federal Reserve Board, which is the central bank, decided to raise the rate by 0.25% at the meeting held until the 1st of this month, but reduced the rate hike twice in a row.
Fed Chairman Jerome Powell has indicated that the pace of inflation is easing, but points out that the economy continues to pass on the increase in labor costs to prices against the backdrop of a serious labor shortage.
It will be interesting to see how the Fed decides to raise interest rates in light of price trends and employment conditions.