New data shows inflation cooled slightly in January
WASHINGTON (NEXSTAR) — A new report out from the Commerce Department shows inflation cooled off slightly last month. The Personal Consumption Expenditures price index showed inflation rose 2.5% from the year before, down from December’s 2.6%.
Inflation rose 2.5% over the year in January compared to 2.6% in December, marking the first decrease in four months.
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The Federal Reserve’s preferred inflation gauge cooled as expected in January; however, the good news came with another ...
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