The annual rate of inflation In the United States, it fell further in December 2022 for the sixth straight month, standing at 6.5%, 6-tenths lower than in November, according to data released by the Census Bureau on Thursday, January 12, 2023. BLS). On a monthly basis, consumer prices fell by a tenth as we closely monitor whether the US Federal Reserve’s (Fed) rate hikes will have any impact on containing cost data for this country.
The gasoline index was by far the largest contributor to the monthly price decline, falling 9.4% monthly, while the food index gained 0.3% in the final month of the year.
As the BLS recalls, the inflation rate is 6.5%, the lowest since October 2021. The inflation Core, which excludes energy and food prices, was at its year-to-year rate at 5.7% after rising three-tenths this month.
The data of inflation They are well known at a time when all eyes are on the Fed’s steady rate hikes having the desired price-dampening effect.
The last took place last December, the seventh since March. Although it was a half point versus the four consecutive rises of 0.75, the Fed has made it clear that the rises will not stop for the time being.
The members of the Federal Open Market Committee (FOMC) will decide on the next hike at their next meeting, which will take place on January 31st and February 1st. Data like inflation, which came out this Thursday, will weigh heavily in future regulator decisions, as its President, Jerome Powell, has stated on numerous occasions.
With information from EFE.