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Tackle Today: Inflation is Easing, Stocks Rejoice

December 13, 2022

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«November’s CPI arrived at 7.3%.»


The last major economic report before tomorrow’s final Fed announcement of the year has arrived, and the market is lovin’ it. Here are November’s Consumer Price Index (CPI) details:

Expectations: +0.3% month-over-month, +7.3% year-over-year

Actual: +0.1% month-over-month, +7.1% year-over-year, core CPI was +6%

For reference, October’s numbers saw CPI at +7.7% and core CPI at +6.3%. So, inflation continues to cool, supporting the Fed’s plan to downshift the pace of rate hikes. One sour note was that services inflation remained at the same level as last month at 7.2%. Stocks are up bigly this morning, particularly the Nasdaq and growth stocks. Meanwhile, bond yields and the dollar are getting whacked.

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