The much-anticipated numbers from the consumer price index show that, while inflation is much too high, it is cooling some in response to the Federal Reserve's aggressive interest rate hikes. Inflation had been running at 6.5% the month before. Tuesday’s report marks six straight months of declines in annual inflation after the rate peaked at a whopping 9.1% in June.
Prices overall grew by a half-point between December and January , according to the index, the most in several months. After four consecutive meetings of historic three-quarter-point rate hikes, the Fed down-throttled a bit during its December meeting and opted for a half-point hike and then announced an even milder quarter-point hike this month.
And it’s still high! Are you kidding me!
How were the numbers fudged?
Inflation still up at 6.4%. Fixed it for you.
“But…but…but…Inflation is down 25%!” Lol.
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Source: MarketWatch - 🏆 3. / 97 Read more »