Thursday, January 12, 2023 – 8:42 PM
New York, January 12 / WAM / The annual inflation rate in the United States of America slowed down to 6.5% last December, compared to 7.1% in the previous November.
And the US Department of Labor said today that the consumer price index increased by 6.5% in December 2022, which is the lowest pace of increase in a year since October 2021..while the consumer price index decreased on a monthly basis by 0.1% in December compared to an increase of 0.1% in November 2022. .
The new inflation data will help the US Federal Reserve to slow down the rate hike at its next meeting.
The US Federal Reserve raised interest rates seven times last year, by a total of 4.25 percentage points, to between 4.25% and 4.5%, from almost zero last March.
Asim Al-Khouli / Ramy Samih