Money January CPI inflation rate slows to 6.4% but monthly inflation rose by 0.5% February 14, 2023February 14, 2023 Elisabeth Buchwald, USA TODAY Comments Off on January CPI inflation rate slows to 6.4% but monthly inflation rose by 0.5% January's inflation report showed a continued decline from prior months. Investors are hopeful it will prompt the Fed to pause rate hikes.