Latest data could prompt Fed to opt for smaller interest rate hikes
A shopper walks past a Five Below discount store in Christiana, Delaware. (Photo: Bloomberg)
US inflation continued to slow in December, adding to evidence that price pressures have peaked and putting the Federal Reserve on track to slow the pace of interest-rate increases.
The overall Consumer Price Index fell 0.1% from the prior month, with cheaper energy costs fuelling the first decline in two and a half years, according to a Labor Department report on Thursday. The CPI was up 6.5% from a year earlier, the lowest annual gain since October 2021.
Excluding food and energy, core CPI rose 0.3% last month and was up 5.7% from a year…
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