The Labor Department's Bureau of Labor Statistics revealed on Friday in its latest revision that the inflation rate for December was revised downward to 0.2% from the previous month. The figure was below the 0.3% published by the government back in January.
The core CPI, which excludes volatile food and energy prices, remained steady at a 0.3% rise for December, aligning with initial reports. Furthermore, the headline November CPI figure was revised upwards, showing a 0.2% increase compared to the initial estimate of 0.1%. October's CPI was also adjusted to show a 0.1% rise from a previously reported unchanged status.
Although the change is small, it has helped confirm that headline inflation was moderating by the end of 2023. The revisions are regular practice for the BLS, but this year, they have attracted particular attention following the market's sharp reaction to last year's changes.
