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2/13, 2:31 PM (Source: TeleTrader.com)
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US consumer price growth drops to 1.6% in January

According to the calculations of the Bureau of Labor Statistics, monthly inflation in the United States came in at zero for last month and the previous reading was also revised to show no change instead of a decline in consumer prices of 0.1%. The annual pace of growth in the headline index weakened to 1.6% from 1.9%, reaching the lowest point since June 2017.

On the other hand, the underlying measure held at 2.2% and added 0.2% in January, the same as in the previous month. Core inflation excludes food and energy as volatile items. The former dropped for the third time in a row, led by 5.5% from December in gasoline. The energy price index lost 4.8% as a whole year over year, the most since August 2016, after slipping just 0.3% in annual terms in the previous report. The component was down by an adjusted 3.1% in January alone.

The favorite inflation gauge among policymakers from the Federal Reserve is the index of core personal consumption expenditures (PCE).

Breaking the News / IT