December core consumer prices rose at a 2.6% annual rate, less than expected
PUBLISHED TUE, JAN 13 20268:31 AM ESTUPDATED 33 MIN AGO
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Jeff Cox
@JEFF.COX.7528
@JEFFCOXCNBCCOM
The core consumer price index showed a seasonally adjusted 0.2% gain on a monthly basis and 2.6% annually. Both were 0.1 percentage point below expectations.
On a headline basis, the CPI posted an increase of 0.3% for the month, putting the all-items annual rate at 2.7%. Both were exactly in line with the Dow Jones consensus estimate.
Food prices jumped 0.7% for the month, though egg prices tumbled 8.2% and fell nearly 21% from a year ago after soaring previously.
Traders kept bets intact that the Fed would stand pat at its meeting later this month and likely won’t be considering another cut until June.