The Consumer Price Infex (CPI) will be released on at 8.30am ET on Thursday January 12, 2023 giving details on the inflation picture for the month of December. Over recent months inflation in the U.S. has fallen from peak levels, helped by declining energy costs, but the U.S. Federal Reserve (Fed) remains concerned that inflation in services is not falling fast enough due to higher wage costs.
Nowcasts
Nowcasts of inflation from the Cleveland Fed, estimate December CPI inflation at 0.1% at the time of writing. That would take annual inflation down to the mid 6% range.
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