Inflation Slows To 6.4%, But Price Pressures Re-Emerge

WASHINGTON (AP) – The pace of consumer price increases eased again in January, the latest sign that the high inflation that has gripped Americans for two years is slowing. At the same time, Tuesday’s consumer price report showed that inflationary pressures in the U.S. economy remain stubborn and are likely to keep inflation high well into this year. The government said Tuesday that consumer prices rose 6.4% in January compared with 12 months earlier, down from 6.5% in December. On a monthly basis, though, consumer prices increased 0.5% from December to January, much higher than the 0.1% rise from November to December. More expensive gas, food and clothing drove up inflation in January.