Inflation Cools But Remains High as Fed Monitors Prices

Inflation is a decline in purchasing power caused by rising prices, measured by the Consumer Price Index (CPI)
Causes include demand pull, cost-push, and built-in inflation. Recently some cite corporate greed as a driver
January CPI rose 0.3% month-over-month and 3.1% year-over-year, cooling from 9.1% post-pandemic highs
The Fed monitors inflation when setting interest rates to meet 2% target rate
Hyperinflation is uncontrolled, rapid price increases that can devastate economies, like 207% daily inflation in Hungary in 1945-46