US Inflation Hits 6.5% In December

Following November’s better-than-expected CPI print, it appears that circumstances continue to shift to the downside.

According to fresh figures released by the BLS, headline inflation in the US down-shifted from an annualized 7.1% in November to 6.5% in December, right in line with forecasts. Core inflation, which does not account for food and energy, rose another 0.3 percentage points to an annualized 5.7%— also in line with economists’ forecasts.

Most notably, some major contributors to last month’s CPI increase was the food index, which continued to increase 0.3% in December as three of the major six food categories noting price gains. Shelter costs also rose 0.8% last month, following an increase of 0.6% in November. On the other hand, though, the energy index declined by a substantial 4.5% over the month, largely due to nationwide declines in the price of gasoline. Used car prices also plummeted, falling 2.5% month-over-month and are down 8.8% from last year.

Information for this briefing was found via the BLS and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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