Inflation in the US fell to 6.5 percent

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Annual inflation in the US fell from 7.1 percent to 6.5 percent in December. In December, there was a 0.1 percent decrease. Thus, negative inflation was seen on a monthly basis for the first time since May 2020.

US inflation data, which is followed closely by the markets, has been announced. In the USA, the Consumer Price Index (CPI) decreased by 0.1 percent in December, although no change was expected. Thus, in December last year, negative monthly inflation was recorded for the first time since May 2020. On an annual basis, CPI decreased from 7.1 percent to 6.5 percent as expected. Annual inflation, which continued to slow down for 6 consecutive months and fell to its lowest level since October 2021, was 7.1 percent in November last year.

Core CPI rose 0.3 percent as expected.

The dollar index fell to 102.4 after the data, the lowest level since June 2022.

ENERGY PRICES ARE EFFECTIVE TO DECLINE

In the said period, the decrease in energy prices was effective in the monthly decrease in inflation.

The energy index increased by 7.3 percent on an annual basis, against a decrease of 4.5 percent on a monthly basis in December last year. Gasoline prices under the energy item also decreased by 9.4 percent monthly and 2.5 percent annually in this period. On the other hand, increases in food prices continued to slow down compared to previous months. The index for the said item increased by 0.3 percent monthly and 10.4 percent annually in December. In the same period, the housing index increased by 0.8 percent monthly and 7.5 percent annually. Inflation in the US reached 9.1 percent in June 2022, the highest level since November 1981. Analysts said that the slowdown in inflation gave the US Federal Reserve (Fed) room to slow down the rate of increase in interest rates at its meeting next month.



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