US Inflation Rate Set to Rise to 3.2%

The annual inflation rate in the US likely edged up to 3.2% in December 2023 from a five-month low of 3.1% in November, mainly due to a smaller decrease in energy prices. Compared to November, consumer prices are expected to rise 0.2%, the most in three months, and slightly above 0.1% in the previous period. On the other hand, annual core inflation is expected to slow to 3.8%, which would be the lowest reading since May 2021, compared to 4% in each of the previous two months. The monthly rate likely remained steady at 0.3%. Inflation has been on a downward trend after peaking at 9.1% in June 2022 at the highest level since the early 1980s.

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