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Eyes are on another hot inflation measure out today, the Producer Price Index.
Eyes are on another hot inflation measure out today, the Producer Price Index.
The Consumer Price Index report for January shows inflation cooled to 6.4% from a year ago. However, month-over-month, prices have risen by 0.5% compared to December.
A key economic figure out today, the Consumer Price Index, shows inflation eased.
The Federal Reserve raises interest rates by 0.25% putting the benchmark rate between 4.5% and 4.75%. That’s the highest rate since 2007, but it’s the smallest rate increase in almost a year.
President Joe Biden said he takes no responsibility for the ongoing inflation on Friday.
The latest Consumer Price Index report shows inflation is up 6.5% from a year ago. However, month-over-month, inflation slightly cooled by 0.1% from November.