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The inflation rate decreased to a 2.6% annual increase in December, approaching the Federal Reserve's 2% target.
The latest inflation measurement shows progress towards the Federal Reserve's goal, with an annual increase of 2.6% in December, significantly lower than the 5.4% growth in the previous year.
According to Commerce Department data, this figure is 0.6 percentage points away from the central bank's target of 2%.
This positive sign for consumers indicates a softer inflation rate, which could, in turn, positively impact the economy.
15 months ago
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