Key facts Inflation rate for the December 2022 quarter: • quarterly inflation rate was 1.4 percent • annual inflation rate was 7.2 percent. Quarterly change In the December 2022 quarter the CPI rose 1.4 percent (1.5 percent with seasonal adjustment). • Housing and household utilities rose 1.3 percent, influenced by: • homeownership (up 2.1 percent) • actual rentals for housing (up 0.9 percent) • property maintenance (up 1.5 percent). • Food rose 1.8 percent, influenced by: • grocery food (up 3.3 percent) • meat, poultry, and fish (up 4.2 percent) • restaurant meals and ready-to-eat food (up 2.2 percent). • Recreation ... (full story)