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Economy

Scripps News

Food inflation eases, housing costs continue to rise

Scripps News ·
Scripps News
Scripps News

The price of goods and services increased 3.1% in the 12-month period ending in January, according to data released by the Bureau of Labor Statistics. That's down from the 3.4% inflation rate for the 12-month period ending in December and far below the inflation rate of 9% in June 2022. But it still remains slightly above the Federal Reserve's target for the annual inflation rate.