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US Inflation Slows in January
US inflation fell in January. The Consumer Price Index dropped to 2.4 percent from 2.7 percent in December.
Monthly inflation rose 0.2 percent from December to January. Both January inflation numbers were lower than expected. Prices for basic needs stayed high in January.
Klear Note — The Consumer Price Index measures how fast prices rise for things people buy. Lower inflation means prices are rising slower, which is good for shoppers.
Key Terms 2
- Consumer Price Index
- A measure of how much prices rise for things people buy.
- inflation
- When prices for things cost more money over time.