U.S. inflation moderated in January from historic highs, but two Northeastern experts say the economy has a ways to go before it is reigned in.
The consumer-price index, a measure of inflation, climbed 6.4% in January from a year earlier, and is down from 6.5% in December, the Labor Department said Tuesday. The report marked the seventh straight month of cooling in annual inflation since it peaked at 9.1% in June, the highest reading since 1981.
“I have a rather pessimistic interpretation of it,” says William Dickens, a professor of economics and public policy at Northeastern University. “We still have some ways to go to bring inflation down.”