Inflation continued to cool in December 2022, the latest sign that high consumer prices are finally beginning to lose their stranglehold on the U.S. economy, the Fox Business website reports today (Jan. 13, 2023).
The Labor Dept. said that the consumer price index , a broad measure of the price for everyday goods including gasoline , groceries and rents, fell 0.1% in December from the previous month. Prices climbed 6.5% on an annual basis.
It marked the slowest annual inflation rate since October 2021and the slowest monthly rate since April 2020, at the height of the COVID-19 lockdowns.
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