Washington, (EFE).- The interannual rate of inflation in the United States continued to drop in January, for the seventh consecutive month, and stood at 6.4%, one tenth below that of December, according to data offered this Tuesday by the Bureau of Labor Statistics (BLS).
However, in monthly terms, consumer prices rose half a point, at a time when it is being analyzed whether the increases in interest rates by the Federal Reserve (Fed, in English) have an effect on the desired drop in prices.
The housing index was, by far, the one that contributed the most to the monthly increase in prices, as it rose seven tenths compared to December and accumulates a year-on-year increase of 7.9%.
The price of food increased half a point and has risen 10.1% in one year, while energy grew 2% monthly and 8.7% year-on-year.
Core inflation, which measures the rise in consumer prices excluding food and energy prices, the most volatile, rose 0.4% in January and placed its year-on-year rate at 5.6%, the lowest figure since December 2021, notes the BLS.
As the agency recalls, the inflation rate of 6.4% is the lowest since October 2021.
The inflation data is released at a key moment, in which it is closely analyzed whether the constant interest rate hikes carried out by the Fed are having the desired effect of containing prices.
The last one occurred on February 1, which was the eighth since March of last year, a rise of 0.25 points, which confirmed a slowdown in the increases.
With this rise, less than the previous increases, the rates stood in a range of 4.5% and 4.75%, the highest figure since September 2007.
However, Fed Chairman Jerome Powell insisted at a public event last week that it will be necessary to keep raising interest rates for a while as the “disinflation” process has only just begun and “has a long way to go.” to follow”.
The president of the regulatory body recalled that the Fed’s objective is to return inflation to 2% and that this will not be immediate.
Although the Fed expects 2023 “to be a year of significant declines,” Powell noted, “it will take, not just this year, but next year, to come down close to 2%.”
Since it reached its peak in June (9.1%) of 2022, inflation in the United States has eased to 6.4% and in January it fell for the seventh consecutive month, although with the aforementioned small drop of one tenth.
