U.S. Consumer Prices Declined 0.1% in December

By Tom Burnett CFA On January 12, 2023, the Bureau of Labor Statistics released its Consumer Price Index report for December 2022. The CPI fell by 0.1 %, the lowest reading in more than 13 months. Over the past six months, the average monthly increase has been 0.15% with the highest readings in September…

By Tom Burnett CFA On January 10, 2023, the World Bank issued its 2023 “Global Economic Prospects” report which lays out its view that an economic slowdown is expected in most regions this year. This forecast will be updated in June, but the message is clear, the Bank is looking for reduced GDP growth…

By Tom Burnett CFA On January 6, 2023, the Bureau of Labor Statistics released the employment data for December 2022. Job totals rose by 223,000 from the prior month. Total nonfarm employment now stands at 153.7 million, a post-Covid high. The unemployment rate is now 3.5%, down from 3.7% in the previous…

By Tom Burnett CFA On December 14, 2022, the Federal Reserve voted unanimously to raise the Fed Funds rate to a range of 4.25%-4.50%. This action follows four consecutive increases of 75 basis points at previous meetings. The Fed press release makes it clear that inflation remains a major economic issue…

By Tom Burnett CFA On December 12, 2022, the Bureau of Labor Statistics issued its Consumer Price Index report for November. The CPI rose 0.1% in November and 7.1% over the past 12 months. The increase for October was 0.4% and the average increase over the past five months is 0.2%. The 12-month increase…