Inflation Report Doesn’t Surprise, Eases Slightly

  • The consumer price index fell 0.1% in December, meeting expectations, for the biggest drop since April 2020.
  • Excluding food and energy, core CPI rose 0.3%, also in line with estimates.
  • The biggest reason for the easing in inflation came from a sharp drop in gasoline prices, which are now lower on a year-over-year basis.
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