Inflation slowed once again in December as the Consumer Price Index (CPI) increased by 6.5% over last year and decreased by 0.1% sequentially. Although progress has been made in bringing inflation down from its high of 9.1% year-over-year rise in June, the central bank remains committed to bringing inflation down to its 2% target.
Policymakers have signaled a slowdown in rate hikes but did not promise an easing. With a pause in interest rates improbable this year, the economy and the stock market are expected to remain under pressure.
