Inflation rises to 3% for the first time since June

WASHINGTON, DC — Inflation climbed again in January, hitting 3-percent for the first time since June 20-24, according to data released Wednesday. Consumer prices rose half a percent from December to January.

Economists were expecting a rise and had predicted the annual inflation rate to land at two-point-nine percent. The cost of goods and services has slowed significantly since hitting a 40-year high in 20-22.

However, prices are still rising faster than they did in the decade before the pandemic.