(Washington) Prices continue to climb in the United States and “inflationary pressures remain widespread”, indicated the American central bank (Fed) in its Beige Book published on Wednesday.
Price increases, however, have slowed in several regions, the Fed also underlines in this survey carried out at the end of January and throughout February among companies in the country. These “expect that the rise in prices will continue to moderate during the year”, it is specified.
Companies in some of the twelve regions of the Fed system have thus observed an increase in the prices of supplies, “in particular for energy and raw materials”, details the “Beige Book”.
However, “some relief” was noted regarding “freight and shipping costs”.
In addition, “some regions noted that companies had more difficulty passing on cost increases to their consumers”.
Thus, regarding selling prices, they “increased moderately in most regions”, even decelerating sometimes.
Inflation rose again in January, to 5.4% over one year, according to the PCE index, favored by the Fed, and which it wants to bring back to around 2%.
Another measure, the CPI index, on which pensions are indexed, slowed slightly over one year, to 6.4%, accelerating however over one month for the first time since September.
February CPI inflation will be released on Tuesday.
“Global economic activity increased slightly at the start of 2023,” said the Fed, which has nevertheless been seeking, by raising its key rates for a year, to slow down activity to ease pressure on prices.
And the companies surveyed for the Beige Book “did not expect to see economic conditions improve much in the coming months”.