Based on a story by Tom Ozimek that first appeared at The Epoch Times The rate of inflation has trended up over the last several months. Prices are falling in some areas but continue to rise in others. Measurements of Consumer Price Index (CPI) in December did show some positive signs of improvement. Late last week, our staff economist, Phillip Sprehe, shared his insight with The Epoch Times on the overall pace of inflation as measured by the CPI. Official inflation data of 6.5 percent is the slowest annual rate in over a year and this number has been trending downward in recent months. “The CPI has been softening over the last six months which is a good sign that high inflation rates are on a definitive path downward,” said Sprehe. But, the downward trend may not act as a deterrent to the Federal Reserve. “The Federal Reserve might also partially disregard the good news, because a significant portion of the reduction comes from volatile energy items which could suddenly reaccelerate,” said Sprehe. Read more from Sprehe's interview and the entire story by visiting the Epoch Times online. Can't access the article? Download a PDF version here .