<p>The Consumer Price Index decreased 0.1% in December 2022, marking the largest <a href="http://dailywire.com/topic/inflation" target="_blank" rel="noopener">inflationary</a> decline in nearly three years, according to a <a href="https://www.bls.gov/news.release/cpi.nr0.htm" target="_blank" rel="noopener">report</a> from the Bureau of Labor Statistics.</p>
<p>The month-to-month decrease of 0.1% was in line with analysts’ forecasts, while core inflation, which factors out the more volatile food and energy categories, rose 0.3%, also reflecting expectations. Food prices increased 0.3% and shelter prices increased 0.8% even as energy prices fell 4.5%. The month-to-month decrease was the largest since April 2020, when consumer and business spending plummeted amid government lockdown mandates.</p>
<p>Year-over-year inflation was charted at 6.5% in December 2022, marking a decline from the 7.1% recorded in the previous month. The decrease in energy prices responsible for much of the lower headline inflation follows gas prices attaining their <a href="https://www.dailywire.com/news/gas-prices-in-2022-were-the-highest-on-record-heres-where-they-could-be-heading-next-year" target="_blank" rel="noopener">highest levels</a> on record last year.</p>
<p>Bankrate Chief Financial Analyst Greg McBride said in comments provided to The Daily Wire that “the tide has turned, and improvement is now the prevailing trend,” implying that policymakers at the Federal Reserve could slow their aggressive actions to increase target federal funds rates as a result of the new inflation report. “But that may just mean more small rate hikes rather than fewer large rate hikes,” he said. “The end point is still to be determined.”</p>
<p>Officials at the Federal Reserve <a href="https://www.dailywire.com/news/breaking-federal-reserve-hikes-target-interest-rates-half-a-percentage-point" target="_blank" rel="noopener">raised rates</a> by three-quarters of a percentage point on four consecutive occasions last year before implementing a half-percent increase last month, causing higher interest rates across the economy. McBride observed that prices for goods are generally declining even as prices for services continue to increase.</p>
<p>“Moderating inflation is most apparent in the prices for goods such as used cars and trucks that have declined for six straight months. But it is in services where labor shortages are most pronounced, making services inflation tougher to corral,” he commented. “Despite the headline and core results meeting expectations, the broad-based improvement that needs to be seen to get inflation truly under control is still lacking. In addition to shelter, plenty of other necessities increased at an outsized pace last month: food, apparel, vehicle insurance, and household furnishings and operations.”</p>
<p>Employers have expressed concern regarding a labor shortage that has worsened inflation as companies hike pay to attract new workers. The phenomenon comes as labor force participation failed to recover over the past two years, worsening a <a href="https://www.dailywire.com/news/americans-continue-to-opt-out-of-the-workforce" target="_blank" rel="noopener">decades-long trend</a> of low engagement in the job market. The metric dropped from 63.4% in February 2020 to 60.2% in April 2020 amid government lockdowns and business closures, according to <a href="https://fred.stlouisfed.org/series/CIVPART" target="_blank" rel="noopener">data</a> from the Bureau of Labor Statistics. Labor force participation climbed to 62.3% as of December 2022.</p>
<p>Federal Reserve Chair Jerome Powell <a href="https://www.dailywire.com/news/federal-reserve-chair-jerome-powell-discusses-future-slowdown-of-rate-hikes" target="_blank" rel="noopener">believes</a> the “participation gap” is mostly a result of “excess retirements” that occurred beyond “what would have been expected from population aging alone,” even as younger individuals largely returned to the workforce.</p>
<p>The most recent inflation data come after one of the <a href="https://www.dailywire.com/news/stocks-had-their-worst-year-since-2008-after-biden-boasted-about-their-performance" target="_blank" rel="noopener">worst stock market</a> performances in modern history as soaring prices, geopolitical pressures, and backlogged supply chains plagued the economy. The S&amp;P 500 index plummeted nearly 20% in 2022, rivaling the 37% decline seen in 2008 amid the collapse of the banking system, as well as the 12% and 22% declines witnessed in 2001 and 2002 amid the dot-com bubble.</p>
<p><em>This report has been updated to include additional information.</em></p>

<script async src="https://www.instagram.com/embed.js"></script>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<script async src="https://www.tiktok.com/embed.js"></script><div data-widget-host="revcontent" data-pub-id="165152" data-widget-id="290588"></div><script src="https://delivery.revcontent.com/165152/290588/widget.js"></script>

Inflation Rate Sees Largest Slowdown Since 2020

CONTINUE READING

Bud Light Sales Continue To Plummet, May Soon Lose Status As Number-One Beer

‘Profoundly Christian’: Former Head Of Anglican Church Presses British Government To Endorse Assisted Suicide

Ben Shapiro Reacts To Debt Limit Deal, Hits Both Democrats And Republicans Over Spending Habits

‘The Chosen’ Defends Pride Flag Spotted On Set: ‘Let The Show Speak For Itself’

Chick-Fil-A Faces Backlash As Their Diversity Efforts Resurface, Other Woke Brands Take Beating

North Korea Sentenced Two-Year-Old To Life In Prison After Family Caught With Bible: State Department

News

Economy

Gas Prices

Inflation

Supply Chain

U.S.

A video goes viral showing a baby being refused his mother by two gay "dads". This is just the tip of the iceberg, which is why we will have an important discussion today about surrogacy. 

Hour 1

The Matt Walsh Show

Ep. 1765 - This Video Is One Of The Worst Things I've Seen In A Long Time 

The Strait of Hormuz officially opens for business (kind of), the Pope makes “shocking” comments on immigration, and President Trump promises UFO disclosure at TPUSA. 


The Michael Knowles Show

Ep. 1956 -  Pope Leo's "SHOCKING" Immigration Comments EXPLAINED

A false miscreed has corrupted our leadership class.


The Andrew Klavan Show

Ep. 1275 - Dumb, Dumber and Progressive

President Trump announces a 10-day ceasefire between Lebanon and Israel, a murder-suicide involving former Democratic Lieutenant Governor Justin Fairfax shakes Virginia, and France and Britain hold a conference to secure the Strait of Hormuz – after the Iranian conflict ends. Get the facts first with Morning Wire.

- - -

Ep. 2738

- - -

Wake up with new Morning Wire merch: https://bit.ly/4lIubt3

- - -

Today's Sponsors:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text 'WIRE' to 83848 to learn more.

Pocket Hose - Text MORNING to 64000 to get a FREE pocket pivot and their 10-pattern sprayer with the purchase of ANY size Copper Head hose. Message and data rates may apply.

Morning Wire

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26

U.S. Expands Hormuz Blockade & VA Fairfax Deaths Investigated | 4.17.26 [Member Exclusive]

A ceasefire goes into effect between Israel and Lebanon, a tragic murder-suicide rocks Virginia, and Dairy Queen deploys AI in the drive-thru. Get the facts first with Evening Wire.
- - -
Ep. 2737
- - -
Wake up with new Morning Wire merch: https://bit.ly/4lIubt3 
- - -
Today’s Sponsor:

Alliance Defending Freedom - Visit https://JoinADF.com/WIRE or text “WIRE” to 83848 to learn more.


Evening Wire: Lebanon Ceasefire Begins & Murder-Suicide Rocks VA | 4.16.26

The Pendragon Cycle

Menu

— News —

Inflation Rate Sees Largest Slowdown Since 2020