Consumer Price Index (December 2023)
Inflation was hotter than expected last month, due in large part to rising shelter costs. However, annual Core CPI (which removes food and energy prices) came in at 3.9%, well below the 2022 peak of 6.6% and below 4% for the first time in over 2 years. Will the Fed see this as enough progress to shift from rate hikes to rate cuts this year?
