US Inflation Slows as Price Pressures Ease Gradually
WASHINGTON — Annual inflation in the United States cooled last month yet remained elevated in the latest sign that the pandemic-fueled price surge is gradually and fitfully coming under control. Tuesday’s report from the Labor Department showed that the consumer price index rose 0.3% from December to January, up from a 0.2% increase the previous month. Compared with a year ago, prices are up 3.1%. That is less than the 3.4% figure in December and far below the 9.1% inflation peak in mid-2022. The latest reading is well above the Federal …