The Federal Reserve’s preferred measure of inflation rose 4.4% annually in December, down from 4.7% in November, the latest sign that the era of red-hot prices is coming to an end and that the Fed may soon pivot to a less aggressive monetary policy stance.
The core personal-consumption expenditures (PCE) price index, also known as the core PCE deflator, rose 4.4% on an annual basis in December from 4.7% in November, in line with expectations of economists surveyed by FactSet.
Read More: PCE Data Show Another Drop in Fed’s Preferred Inflation Gauge