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let s start in the us where inflation has been falling for the 7th month in a row. the rate forjanuary stands at 6.4% down from a peak of 9.1% injune last year. but the latest report from the us labor department also showed the pace of that slowdown is starting to ease. the bbc s north america correspondent michelle fleury reports from new york. inflation has been coming down on an annual basis. that s the good news. the bad news on a monthly basis, prices for consumer goods actually rose at the start of 2023, despite an aggressive campaign by america s central bank to bring it down. the consumer price index was up 0.5% injanuary, compared to a revised 0.1% increase in december. the cost of housing was to blame for more than half of the increase. higher food and energy prices also contributed. the stronger than expected report, coupled with a tight labour market, could force america s central bank to raise interest rates more than anticipated. and that certainly spo ....
Investors, with prices still running well above the us federal reserve s 2% target. the task of taming inflation is not straightforward, a fact recently acknowledged by fed chairjerome powell, who warned the process wouldn t be easy. and it looks like he s going to have to do it without one of his top lieutenants. federal reserve vice chair lael brainard has been picked byjo biden to replace brian deese as one of his top economic advisers. the change to the president s economic team comes as the fed is trying to fight inflation without causing a recession. now, all of this has prompted executives at some of america s biggest banks to give a more upbeat assesment of the us economy. goldman sachs, bank of america and wells fargo their words mark a shift in tone and reflect the growing belief that the federal reserve is winning its battle of taming inflation and avoiding a recession. let s delve into that a bit more with janet moyee, head of market analysis ....