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Inflation Update: Biggest Drop Since 2020

January 16, 2023

Monetary Policy Bag on a person's head

The Consumer Price Index (CPI) for December saw its largest monthly dip since April 2020. CPI fell 0.1% in December, largely driven by lower gasoline prices. On an annual basis CPI rose 6.5%. The index is one of the most influential indicators of the U.S. economy and is considered a key factor in Federal Reserve interest rate decisions.