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Higher Inflation Dogs Powell at Congressional Testimony

It's hard to say if this is a one-time noise or a reflection of a higher inflationary environment.

By Erik Sherman | February 13, 2025 at 05:17 AM

The inflation news isn’t what the Federal Reserve and its chair Jerome Powell wanted to confront. But they had to.

The Consumer Price Index came out. Although not the personal consumption expenses that the central bank prefers, it showed a year-over-year 3% price increase, or 0.5% between December 2024 and January 2025. December’s increase was 2.9%. Core inflation over 12 months was even higher at 3.3%; December was 3.2%.

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