Inflation & Prices
US Inflation Cools Again, Putting Fed on Track to Downshift
- Consumer prices post first monthly drop since 2020 on gasoline
- Core measure rose 0.3% in December, in line with estimates
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US inflation continued to slow in December, adding to evidence price pressures have peaked and putting the Federal Reserve on track to again slow the pace of interest-rate hikes.
The overall consumer price index fell 0.1% from the prior month, with cheaper energy costs fueling the first decline in 2 1/2 years, according to a Labor Department report Thursday. The measure was up 6.5% from a year earlier, the lowest since October 2021.