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CPI Report Shows Inflation Slowed for Sixth Straight Month in December

January 12, 2023 by Bautis Financial
December 2022 CPI Report

Inflation closed out 2022 in a modest retreat, with the largest consumer prices decline in December since early in the pandemic.

The Consumer Price Index, a measurement of the average change over time in the prices paid by consumers for goods and services, fell 0.1% in December, in line with the Dow Jones estimate. That equated to the largest month-over-month decrease since April 2020.

But even with the decline for the month, headline CPI rose 6.5% from a year ago. However, that is the smallest annual increase since October 2021.

Economists and Fed officials are typically more focused on a so-called core inflation measure, or core CPI, which removes volatile food and energy prices to get a better sense of underlying price trends. That measure climbed 5.7% in December from a year earlier, compared with 6% previously. This also met expectations.

The takeaway from December’s CPI report is that inflation is moderating meaningfully. But the question remains: How quickly and how completely will prices return to normal after a long year and a half of rampant inflation?

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Category: Finance NewsTag: Consumer Price Index, CPI, Inflation
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