The US inflation eased from the peak of 9% in mid-2022, with the headline CPI rate coming in at 6.5% in December, but core prices, excluding energy and food, rose as shelter costs increased. Policymakers closely monitor “core” inflation due to its nuanced look at key inputs.
Last month, the Federal Reserve raised its benchmark interest rate to the highest level in 15 years, indicating the fight against inflation is not over.
