Inflation figures fall in the US, inflation reduced to 7.7 percent in the last 12 months!

WASHINGTON, AP: Inflation data has declined in the US, suggesting that the country is recovering from inflationary pressures, due to which the pace of growth was slowing. 

On a year-on-year basis, the improvement was marginal in January. Excluding volatile food and energy prices, 'basic' inflation rose by 6.3 percent over the past 12 months and 0.3 percent since September. 

The figures that came out are less than what predicted by the economist they were expecting that the Federal Reserve would continue to raise internet rates to rein in rising prices. 

However, many economists have warned that the Fed's aggressive policy to control the flow of cash in the market may lead to a recession next year. 

So far this year, the Fed has raised its benchmark interest rate six times, albeit in sizable proportions. Due to which taking loans for mortgage, purchase of vehicles and other expensive expenses has become risky, which can also push the world's largest economy towards recession.

The issue of inflation was on the top of the Mid-term Congress election that ended on Tuesday. 

Their economic concerns caused Democrats to lose seats in the House of Representatives, however Republicans also failed to make the big political gains that many had hoped for.

Before the Thursday's figures come out, inflation had started moderating by some measures and may continue in the coming months.