What to Expect in the Last Consumer Price Inflation Report of the Year, and What’s Ahead
- Core inflation seen rising 0.3% in November, up 6.1% from 2021
- Next year’s price outlook hinges on goods, housing and wages
A shopper browses televisions at a store in San Francisco.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
The path of US inflation in 2023 may have more surprises in store after a year in which consumers suffered the biggest cost-of-living hit in 40 years, spurring steep interest-rate hikes by the Federal Reserve and spooking investors.
The November consumer price index due Tuesday, the final report of 2022, is projected to show that while inflation is moderating, it’s running at about three times its pre-pandemic pace. Excluding food and energy, the CPI is seen rising 0.3% for a second month, and 6.1% from a year ago.