Fed officials say rates may have to rise despite CPI fall

FOMC meeting January 2019

Some senior Federal Reserve officials said rates may need to continue rising, as data showed US consumer price index (CPI) inflation falling slightly in January.

Year-on-year CPI inflation was 6.4% in January, down by 0.1 percentage points from December’s figure. This was the seventh consecutive monthly decline in CPI inflation since its June 2022 reached 9.1% in June. Core inflation fell to 5.6% from the previous month’s reading of 5.7%.

The Federal Open Market Committee uses a different

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