With unemployment at its lowest point in 50 years while food prices soar, even economists are left scratching their heads.
There was a bit of positive economic news Thursday: The rate of inflation slowed for the sixth-straight month, as the latest Consumer Price Index numbers for December showed that prices increased 6.5% over the past year. That’s down from 7.1% in November, and a significant fall from the 9.1% peak in June 2022. It’s also the smallest year-over-year increase in the overall CPI numbers in more than a year, going back to October 2021.
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