From Wall Street Journal:

Inflation might not be cooling as fast as hoped, as the Cleveland Fed’s median consumer-price index suggests. However, the Labor Department’s consumer-price index indicates that inflation is in retreat. In December, overall consumer prices were up 3.2% from a year earlier, lower than the 6.5% registered in December 2022. Core prices, excluding food and energy, are expected to show a gain of 3.8% versus 5.7% in December 2022. Economists anticipate these trends to continue. This news might alleviate some concerns about the pace of inflation.



Read more: This Inflation Measure Is Running Hot. It’s Probably Wrong.