The year-on-year rate of inflation in the United States continued to decline in December 2022, for the sixth consecutive month, and stood at 6.5%, 6 tenths below that of November, according to data published this Thursday, January 12, 2023 by the Bureau of Labor Statistics (BLS). In monthly terms, consumer prices fell by one tenth, at a time when it is being closely monitored whether the Federal Reserve’s (Fed) interest rate hikes have an effect on cost data containment for this country .
The gasoline index was by far the largest contributor to the monthly decline in prices, falling 9.4% monthly, while the food index increased 0.3% during the last month of the year.
As the BLS recalls, the inflation rate of 6.5% is the lowest since October 2021. The inflation Core, which excludes energy and food prices, stood at 5.7% in its interannual rate, after rising three tenths this month.
The data of the inflation They are known at a time when all eyes are on the constant increases in interest rates carried out by the Fed, which are having the desired effect of containing prices.
The last one took place last December, which was the seventh since March. Although it was half a point, compared to the four consecutive increases of 0.75, the FED has made it clear that the increases are not going to stop for the moment.
The next increase will be decided by the members of the Federal Open Market Committee (FOMC) at their next meeting, which will take place on January 31 and February 1. Data such as inflation, known this Thursday, will have a lot of weight in the regulator’s future decisions, as its president, Jerome Powell, has explained on numerous occasions.
With information from EFE.
Source: Larepublica
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