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1/12/2023, 2:31 PM (Source: TeleTrader)
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US inflation down further to 6.5% in December

The annual inflation rate in the United States marked the sixth consecutive decline in December, landing at the expected 6.5%. The reading slid to the lowest level since October 2021.

According to a report published by the Bureau of Labor Statistics on Thursday, the annual inflation went down by 0.6 percentage points from November. On a monthly basis, consumer prices declined by 0.1% last month.

The price of fuel remained the largest contributor to inflation, despite energy prices seeing a decrease as a whole. Core inflation also dropped, landing at 5.7%. The Fed's next rate decision is scheduled for February 1.

Baha Breaking News (BBN) / ND