Federal Reserve policymakers on Thursday expressed relief that inflation continued easing in December, paving the way for a possible step down to a quarter-point interest rate increase when the U.S. central bank meets in just under three weeks.
U.S. consumer prices fell in December in the first month-to-month decline in more than 2–1/2 years, and underlying inflation slowed, government data showed on Thursday. In the 12 months through December, the so-called core CPI increased 5.7 percent, the smallest gain since December 2021 and fresh evidence the Fed’s aggressive rate increases are having the desired effect.
