The inflation rate declined in December as consumers saw prices plummet at the gasoline pump, providing another hopeful sign for households that price pressures are continuing to ease from their highest level in decades. Inflation closed out 2022 with a 6.5% annual reading, as measured by the consumer price index, the U.S. Bureau of Labor Statistics said Thursday. It was in line with economists’ expectations. The CPI reading for December marked the smallest 12-month increase since October 2021. It fell from 7.1% in November. The index measures how quickly average prices are rising or falling for a basket of goods and ... (full story)