Inflation remains stubborn, falling slower than expected
Tuesday's report from the Labor Department showed that the consumer price index rose 0.3% from December to January.
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Tuesday's report from the Labor Department showed that the consumer price index rose 0.3% from December to January.
With inflation seemingly not slowing as fast as anticipated, economists suggest that an immediate slashing of interest rates is off the table.
US consumer inflation cooled in January but at a slower rate than expected, resisting President Joe Biden's efforts to soothe families' cost of living concerns in an election year.
The closely watched CPI rose 3.1 percent from a year ago last month, down from 3.4 percent in December, the US Department of Labor said on Tuesday
US consumer inflation cooled in January but at a slower rate than expected, resisting President Joe Biden's efforts to soothe families' cost of living concerns in an election year.