December 2022 CPI THIS MORNING! December 2022 CPI Predictions...How RARE will it be?!!
December 2022 CPI THIS MORNING! December 2022 CPI Predictions...How RARE will it be?!!
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This video takes a statistical look at the history of the Consumer Price Index (CPI) for All Urban Consumers for both all items and core CPI which is less food and energy as their respective indexes can be volatile. An examination of the 1-month changes over the history of the CPI revealed the most common month-over-month (MoM) inflation values which can be used to predict the most likely year-over-year (YoY) and MoM estimates for December 2022 CPI measure. The historical CPI data, including November 2022's CPI data were used to make predictions for the upcoming MoM and YoY CPI measures. The CPI estimates are given for December 2022 and much of 2023. Jerome Powell, of the Federal Reserve, has consistently stated that the Federal Reserve would continue to follow its dual mandate to maintain price stability and maximum employment. Under this mandate, the Fed is raising the Federal Funds rate (using quantitative tightening) to slow the pace of the economy so that inflation does not remain entrenched. The CPI report for January 2023 likely show a continued slowing of the economy, by the headline inflation number and the MoM inflation. Month-over-Month inflation for the CPI needs to consistently be between 0.1% and 0.2% for the Fed to reach its target inflation rate of 2%, which could possibly be seen as soon as the end of 2023. The next CPI report release date is January 12th at 8:30 AM (EST).
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