Inflation eased for the seventh consecutive month in January on an annualized basis. The Consumer Price Index rose 0.5% over the month and 6.4% year-over-year. The sequential rise in inflation follows the hotter-than-expected jobs data in January.
After raising the benchmark interest rates eight times since last year, inflation has shown signs of cooling. Fed Chair Jerome Powell believes that the “disinflationary process” has begun.
