Local News

1-30-24 inflation drops below 3%

todayJanuary 29, 2024

The Fed’s preferred inflation guage has moved below 3% for the first time since March 2021, before the start of the central bank’s rate-hiking campaign.  Retired Ripon College economist Paul Schoofs says inflation cooled last month even as the economy kept growing briskly.   Friday’s government report showed that prices rose just 0.2 percent from November to December, a pace broadly consistent with pre-pandemic levels and barely above the Fed’s 2% annual target.  Compared with a year ago, prices increased 2.6 percent, the same as in the previous month.

Written by: Radio Plus

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