Inflation dropped for the 6th consecutive month in December

Shoppers in a grocery store.
(Image credit: I RYU/VCG via Getty Images)

Inflation dropped to an annual rate of 6.5 percent in December, its sixth straight decline in as many months, the U.S. Labor Department said Thursday.

The December rate was down from 7.1 percent in November, while the consumer-price index, which measures what consumers pay for goods and services, rose at its slowest pace since October 2021, The Wall Street Journal reports, per the Labor Department.

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Brigid Kennedy

Brigid Kennedy worked at The Week from 2021 to 2023 as a staff writer, junior editor and then story editor, with an interest in U.S. politics, the economy and the music industry.