The daily business briefing: February 15, 2023

Inflation slowed in January but less than expected, Air India announces 470-plane orders from Airbus and Boeing, and more

An Air India Dreamliner jet
(Image credit: Saeed Khan/AFP/Getty Images)

1. Inflation slowed in January by less than predicted

Inflation slowed in January, according to the consumer price index released Tuesday, but less than expected. Prices were up 6.4 percent in January compared with a year earlier, down slightly from 6.5 percent in December. It was the seventh straight month with a slower year-over-year inflation rate since a recent peak of 9.1 percent in June. On a monthly basis, prices jumped 0.5 percent from December to January, faster than the 0.1 percent increase the month before. "Core" inflation, which excludes volatile fuel and food costs, was 0.4 percent, the same as the month before. The report showed that the Federal Reserve's interest rate hikes are helping to bring down inflation, but the central bank's goal of a 2 percent rate remains far off.

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