Author: Gabriella Cruz-Martinez

Americans who have been hit by rising prices over the past 22 months continue to face the strain as the cost of meeting daily needs remains high despite signs of slowing inflation.The Labor Department said Tuesday that the Consumer Price Index (CPI), a broad measure of prices for everyday goods, including groceries, fuel, and rent, rose 0.3% in January. from last month. Consumer prices were 3.1% higher than a year earlier.While that measure is below the 3.4% inflation reading in December, it remains above the Federal Reserve’s 2% target.Read more: What the Fed rate decision means for bank accounts, CDs,…