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United States Inflation January 2023

United States: Inflation falls to over one-year low in January

Inflation came in at 6.4% in January, down from December’s 6.5%. January’s reading marked the weakest inflation rate since October 2021, but was above market expectations of 6.2%. Slower food and transport inflation was partly offset by faster price rises for housing and energy.

Annual average inflation fell to 7.9% in January (December: 8.0%). Meanwhile, core inflation edged down to 5.6% in January, from the previous month’s 5.7%.

Lastly, consumer prices rose 0.52% over the previous month in January, picking up from December’s 0.13% increase. January’s uptick was the highest reading since June 2022.

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