US inflation and consumer spending cooled in December (access required)

By: The Associated Press January 30, 2023 Comments Off

The Federal Reserve's preferred inflation gauge eased further in December, and consumer spending fell — the latest evidence that the Fed's series of interest rate hikes are slowing the economy. Friday’s report from the Commerce Department showed that prices rose 5% last month from a year earlier, down from a 5.5% year-over-year increase in November. It ...

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US inflation and consumer spending cooled in December

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