Thursday, March 23, 2023

US inflation moderates for the sixth consecutive month and falls to 6.5% in December

Madrid.- The inflation rate in the United States stood at 6.5% last December in interannual terms, which represents a decrease of six tenths compared to the data for November, thus chaining six months of moderation and registering the smallest increase prices since October 2021, according to the data released this Thursday by the Labor Statistics Office of the country’s Department of Labor.

The year-on-year rise in energy prices experienced a moderation of 5.8 points in the last month of the year, reaching 7.3%. This is the smallest increase in energy prices since February 2021, when the inflationary spiral began after the pandemic.

In turn, food became more expensive by 10.4% year-on-year, two tenths less than the increase in November and the lowest figure since before the summer.

Thus, subjacent inflation in the United States, which is the result of excluding food and energy prices from the calculation, stood at 6% in December, three tenths less than the previous month.

The country’s high inflation data has led the US Federal Reserve to raise interest rates at a particularly fast pace. During 2022, the price of money has risen by more than four percentage points.


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