WASHINGTON, Jan 31 (Reuters) - U.S. labor costs increased at their slowest pace in a year in the fourth quarter as wage growth slowed, offering a boost to the Federal Reserve in its fight against inflation.
The Employment Cost Index, the broadest measure of labor costs, rose 1.0% last quarter, the Labor Department said on Tuesday.
That was the smallest advance since the fourth quarter of 2021 and followed a 1.2% gain in the July-September period.
Labor costs increased 5.1% on a year-on-year basis after advancing 5.0% in the third quarter.
Wages and salaries increased 1.0% in the last quarter, also the smallest gain since the fourth quarter of 2021, after rising 1.3% in the third quarter.