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WASHINGTON, DC – SEPTEMBER 18: Federal Reserve Chairman Jerome Powell speaks during a news … [+] conference following the September meeting of the Federal Open Market Committee at the William McChesney Martin Jr. Federal Reserve Board Building on September 18, 2024 in Washington, DC. The Federal Reserve announced today that they will cut the central bank’s benchmark interest rate by 50 basis points to a new range of 4.75%-5%. (Photo by Anna Moneymaker/Getty Images)Getty ImagesThe Consumer Price Index for December 2024, will be released on January 15 2025 giving insight into recent inflation trends. Current nowcasts suggest that inflation may come in at a 2.9% headline annual rate, marking an acceleration from November’s figures of 2.7% annual inflation. However, core inflation which removes food and energy is forecast to remain flat at 3.3% compared to November. Nowcast data is based on real time observed prices for December, and so these estimates will update over the remaining weeks of the month.
Drifting Inflation
Inflation drifting away from 2%, should that occur, may help confirm the m …
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