Sun, Feb 12th, 2023 - 10:00am
January 26, 2024 - 3:27pm | By Ty Schonert
(Washington, DC) -- A key inflation indicator shows prices easing as 2023 came to a close.
December's PCE price index shows prices rose two-tenths of a percent for the month and were up 2.9% on a yearly basis. Including volatile food and energy costs, inflation held steady at 2.6% for the year.
Experts say the reading makes it more likely the Federal Reserve will start cutting interest rates later in the year.