US rate was at 6.5% in December 2022; reached the lowest level since October 2021
Annual inflation in the United States slowed down from 6.5% in December 2022 to 6.4% in January of this year. O Bureau of Labor Statistics released the result of the CPI (consumer price index) this Tuesday (14.feb.2023). Here’s the full of the report (303 KB, in English).
The world is going through an inflationary cycle that began to cool down in the 2nd half of 2022. In the US, the annual rate reached 9.1% in June, the highest level in almost 41 years. It fell for the 7th straight month until reaching 6.5% in January.
To control inflation, the Fed (Federal Reserve, the US Central Bank) began in March 2022 a sequence of monetary tightening, that is, an increase in interest rates. The monetary authority raised the rate level for the 8th consecutive meeting in February 2023. The range increased from 0% to 0.25% to 4.50% to 4.75% in the period.
In January, US inflation reached the lowest annual level since October 2021, when it was 6.2%.
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