Clues about the Fed’s impending interest rate decision may be found in today’s CPI statistics.
Keeping mostly in line with market estimates, inflation rose 0.3% in December.
U.S. inflation increased to 3.4% in December 2023, according to the Consumer Price Index (CPI) statistics issued on Thursday by the United States Bureau of Labor Statistics.
A gain of 3.4% occurred in the 12 months ending in December, outpacing the 3.1% growth seen in the 12 months ending in November. Keeping mostly in line with market estimates, inflation rose 0.3% in December.
After increasing by 4.0% in November, core inflation in the United States slowed to 3.9% over the last year, according to consumer price index data.
All Eyes on Interest Rate Cut
Moreover, according to a Reuters poll, market participants were anticipating that core CPI would stay at 0.3% from the previous month, and that year-on-year inflation would decrease to 3.8% from November’s 4%.
Key clues about the Federal Reserve’s impend
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