U.S. inflation ticks higher in December. What that means for the Fed
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U.S. inflation rose 0.3% in December and 3.4% from a year earlier, exceeding economists' forecasts. Housing costs and energy costs contributed to the increase. Core prices, excluding food and energy costs, rose 0.3% month over month and 3.9% year over year. Overall inflation has been falling but is still higher than before the surge in mid-2022. The Federal Reserve aims to reduce inflation to its 2% target level. Consumer expectations for inflation have decreased to 3% over the next year. Fed officials noted hopeful signs in the inflation outlook, including an end to supply chain backlogs. The December jobs report showed a slight increase in average hourly wages and a decrease in the labor force participation rate. Economists suggest that reaching the Fed's 2% target could be more challenging than slowing inflation from 9% to around 3%.
#U.s.Inflation #FederalReserve #Economy #InterestRates
https://globalnews.ca/news/10218712/us-inflation-december-federal-reserve/
Global News /
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2024-01-11 16:50:03
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2024-01-11 16:50:03Event JSON
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"content": "U.S. inflation ticks higher in December. What that means for the Fed\n==========\n\nU.S. inflation rose 0.3% in December and 3.4% from a year earlier, exceeding economists' forecasts. Housing costs and energy costs contributed to the increase. Core prices, excluding food and energy costs, rose 0.3% month over month and 3.9% year over year. Overall inflation has been falling but is still higher than before the surge in mid-2022. The Federal Reserve aims to reduce inflation to its 2% target level. Consumer expectations for inflation have decreased to 3% over the next year. Fed officials noted hopeful signs in the inflation outlook, including an end to supply chain backlogs. The December jobs report showed a slight increase in average hourly wages and a decrease in the labor force participation rate. Economists suggest that reaching the Fed's 2% target could be more challenging than slowing inflation from 9% to around 3%.\n\n#U.s.Inflation #FederalReserve #Economy #InterestRates \n\nhttps://globalnews.ca/news/10218712/us-inflation-december-federal-reserve/",
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