Quick Review of the U.S. December CPI

In December, the U.S. CPI increased by 2.9% year-on-year, in line with expectations, compared to a previous increase of 2.7%; the U.S. core CPI in December rose by 3.2% year-on-year, with the growth rate lower than both the expected value and the previous value (both were 3.3%); the U.S. CPI in December increased by 0.4% month-on-month, matching expectations, and higher than the previous value of 0.3%; the U.S. core CPI in December rose by 0.2% month-on-month, with the growth rate lower than both the expected value and the previous value (both were 0.3%). The data shows that the month-on-month growth rate of the U.S. CPI has slowed down. Although a decline in CPI after several months of increase is welcomed, a series of weak data is still needed to convince Federal Reserve officials that inflation has made progress