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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
Bloomberg business news
US Inflation Slows Further in December to 0.3% M/M
Updated on

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.