There’s good news on the inflation front: December 2022 marked the sixth straight month that the U.S. rate of inflation has decreased.
According to the latest figures from the U.S. Bureau of Labor Statistics, released January 12, the Consumer Price Index (CPI) fell 0.1% in December 2022. It had risen by the same amount in November. The inflation rate rose 6.5% between Dec. 2021 and Dec. 2022, versus 7.1% between Nov. 2021 and Nov. 2022. And while 6.5% inflation might still feel uncomfortably high to consumers, it is certainly cooling.
What will the Federal Reserve do with this latest information? We’ll find out January 31, when the Federal Open Market Committee (FOMC) meets for the first time in 2023. In the meantime, here’s a peek into how inflation affects the housing market.
