In the summer of 2022 prices soared to about 9 percent in the United States, the highest level in four decades. The development prompted the Federal Reserve to institute aggressive tightening of financial conditions, raising rates that pushed up borrowing costs to control a rise in prices.The Consumer Price Index has slowed as a result and came in at 3.2 percent in February. This was a tad higher than the prior month's reading but is substantially down from the peak of June 2022.
5 percent while India—the fifth largest economy—saw inflation at a little over 5 percent in February. The United Kingdom's latest data, which came in January, put inflation at 4 percent and France's reading was at 3 percent for February. Russia reported 7.7 inflation for February and Canada was at 2.9 percent for January, while Italy had 0.75 percent, rounding up the readings for the world's top 10 economies.Michael Pearce, a deputy chief U.S.
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