According to the latest data from the Labor Department, prices on almost everything continue to rise on both a monthly and annual basis. MORE ⬇️
In January, inflation hit 6.4%, which is half a point higher than it was in December and more than analysts were expecting.
This was just under three points below the inflation high in June of last year. The core inflation rate, which includes all items except food and energy, is lower at 5.6%. A noticeable difference when purchasing a vehicle, the cost for new vehicles rose 5.8%, while used cars and trucks were down 11.6%. Used vehicles were the only item tracked by the Labor Department to see an annual decrease in cost.
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