Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
U.S. price pressures continued to moderate in December as CPI fell 0.1% in the month and core CPI rose 0.3%, bringing the year-over-year rates to 6.5% and 5.7%, respectively, and matching market expectations. Headline CPI hit its lowest since October 2021 and should keep the Federal Reserve on track to end rate hikes early this year. (See: MNI INTERVIEW-Fed Could Pause Hikes As Early As March-Sahm)
Philadelphia Fed President Patrick Harker said Thursday that few more quarter-point increases this year should bring the Federal Reserve's benchmark overnight interest rate to a sufficiently high level to slow the economy and inflation (MNI: Fed's Harker Endorses 'A Few More' 25bp Rate Hikes)
Energy prices decreased 4.5% over the month and food increased 0.3%. Core CPI excluding shelter fell 0.1%, same as in November and October, but the shelter index showed surprising strength. Both owners' equivalent rent and tenants' rent adding 0.8% in the month, a tenth or two higher than analyst estimates. OER rose 0.7% in November and tenants' rent has hovered around 0.8% for a few months.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.