US inflation eases again for seventh consecutive month

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US inflation continued to cool in January, rising at an annual rate of 6.4%, according to figures released by the Bureau of Labor Statistics.

On a monthly basis, prices rose 0.5% from 0.1% in December, showing the continuing strength of inflationary pressures as the cost of housing/shelter rose again.

The latest inflation numbers follow evidence of the continuing strength of the US jobs market. In January, the US added more than 500,000 new jobs, roughly three times the number economists had been expecting.