The overall personal consumption expenditures price index rose 2% for the month, as did the core index that omits food and energy costs.
On an annual basis, the overall index remained unchanged at 2.6% while the core fell to 2.9% from 3.2% in November.
The rise in the core index was the slowest since the spring of 2021.
The core index is often cited by Fed officials as their barometer for inflation.
“The meeting statement is likely to drop the hawkish bias from its forward guidance, but stop short of signaling rate cuts.
Persons:
”, Robert Frick, “, Lydia Boussour, Jerome Powell, Jeremy Schwartz, Ruchir Sharma
Organizations:
Federal, Economic, Fed, Navy Federal Credit Union, Federal Reserve, Reserve, Nomura Securities, Nomura, Aichi Amemiya