U.S. Inflation Rate Slows to 6.5% in December
The U.S. inflation rate slowed to 6.5 percent in December, marking the sixth straight month of slowing down since it peaked in mid-2022. Analysts noted that logistic and shipping costs, which are passed on to consumers, have returned to pre-COVID levels. The Consumer Price Index, which measures what consumers pay for goods and services, fell 0.1 percent in December, a rate that is in line with economist expectations. A sharp decline in gasoline prices, which were down 9.4 percent, was the primary cause for the drop in CPI.