CPI data release

Federal Reserve officials, households and businesses alike are eager for signs that inflation will continue to recede in 2023.

But officials and American families alike have been desperate for signs that the Federal Reserve’s fight against inflation is working and that the economy will continue to stabilize in 2023. Inflation is still well above normal levels, and the economy remains vulnerable to shocks that could send prices back up. Inflation eased again in December, giving relief to households and businesses nationwide and offering more assurance to economic policymakers that price increases are pulling back after they soared to 40-year highs last year.

Inflation eased substantially for a third month in December as tumbling gasoline prices and a moderating rise in grocery bills offset another surge in rent.

And the price of a haircut increased by 0.3% and 6.3% from a year ago. Breakfast cereal prices rose 1.1% and 13% from a year ago. Rent jumped 0.8% monthly and 8.3% over the past year. In December, the price of eggs leaped 11.1% and is up nearly 60% from a year ago as bird flu continues to thin chicken supplies. “It definitely frees up the money for something else.” Nationally, regular unleaded gasoline averaged $3.27 a gallon Wednesday, down from about $5 in June, according to AAA. But the cost of services has marched higher as more Americans return to traveling and other activities even as lingering worker shortages push up wages. Inflation has now eased since July but the pullback has accelerated the past three months. Stocks have been moving higher this week off expectations that CPI would continue to build off November’s decline. That lowered the annual increase from 6% to 5.7%. Still, the central bank is moving more cautiously. Americans have been struggling with an historic inflation spike since spring of 2021 as an easing pandemic stoked consumer demand even while supply chain bottlenecks spawned product shortages.

According to a poll by CNBC-TV18, CPI in December is seen at 5.84 percent against 5.88 percent in the preceding month and 5.59 percent in the year-ago ...

Core CPI continued to remain sticky led by services inflation. according to data published by the ministry of statistics and programme implementation on January 12. Food inflation is likely to remain largely unchanged. It is calculated for a fixed list of items including food, housing, apparel, transportation, electronics, medical care, education, etc. IST3 Min(s) Read IST2 Min(s) Read

Stock market sentiments improved after the announcement of the December consumer price index (CPI), data as equity futures trade in the green. Dow futures were ...

The release of the January 2023 CPI data on Friday, February 10, 2023, will mark the start of the transition to yearly weights. The Bureau of Labor Statistics December CPI index, which measures increases in the prices consumers pay for goods and services, was predicted to show a 6.5% increase from a year earlier, dropping from the 7.1% increase reported the previous month. There will be a change in the way the US CPI is calculated going forward. The data confirms that inflation is finally being tamed, which means there’s a higher chance that the Federal Reserve will pursue less aggressive interest rate hikes in the world’s largest economy,” says Nigel Green, CEO, deVere Group, one of the world’s largest independent financial advisory, asset management and fintech organisations. The index for all items less food and energy, however, rose 0.3 percent in December, after rising 0.2 percent in November. The year-on-year inflation number for December has fallen to 6.5% from 7.1% seen in November 2022.