By Christopher Rugaber -
The Associated Press
Annual inflation in the United States cooled last month but remained elevated, in the latest sign that the price spike caused by the COVID-19 pandemic is only gradually and unevenly coming under control.
According to a Labor Department report released Tuesday,
the consumer price index rose 0.3%
from December to January, up from 0.2% the previous month.
Compared to a year ago, prices rose 3.1%.
This figure is down from 3.4% in December and is well below the inflation peak of 9.1% seen in mid-2022.
Francisco Santana shops at the Walmart Supercenter in North Bergen, New Jersey.Eduardo Muñoz Alvarez / AP
However, the latest inflation figures remain well above the
2% target set by the Federal Reserve
, at a time when public frustration over inflation has become a central electoral issue for the US. voters, in a year in which Joe Biden seeks re-election.