Inflation cooled to 6.4% in January
- Finance
- February 14, 2023
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Consumer inflation eased in January but remained higher than many economists had expected, driven by rising house, gasoline and natural gas prices.
The consumer price index, a broad basket of goods and services, rose at an annual rate of 6.4% in January, the Labor Department reported on Tuesday.
Economists had expected the index to rise 6.2%.
Core inflation, which excludes volatile food and energy costs, also rose more than economists had predicted, at an annual rate of 5.6%.
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