BIDENFLATION: Inflation Cools in December But Consumer Prices Still Red Hot

posted by Hannity Staff - 1.12.23

Here’s the latest on inflation…

December saw inflation cool a bit in line with economists’ predictions thanks to a decline in gas and energy costs —but consumer prices are still painfully high.

The Labor Department said Thursday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, fell 0.1% in December from the previous month. Prices climbed 6.5% on an annual basis.

From Fox News:

Those figures were both in line with forecasts by Refinitiv economists, potentially giving the Federal Reserve a reason to further slow its aggressive interest rate hike campaign when policymakers meet next month.

It marked the slowest annual inflation rate since October 2021 and the slowest monthly rate since April 2020, at the height of the COVID-19 lockdowns. Still, inflation remains about three times higher than the pre-pandemic average, underscoring the persistent financial burden placed on millions of U.S. households by high prices.

The House Republicans’ Twitter account shared a reminder that inflation is a tax on all Americans along with a list of how expensive it is to live in the Biden economy.

More over at Fox Business:

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