- CPI Inflation
- Inflation Expectations
- U-Haul Moving Data
- ATTOM 2023 State of Real Estate Investing
- New Trends In Industrial Real Estate
- SFIB Small Business Survey
- Logistics Managers Index
- FY 2023 Appropriations Bill
- World Bank 2023 Global Growth Forecast
- December Jobs Report
1. CPI INFLATION
• The Consumer Price Index (CPI) rose 6.5% year-over-year and just 0.1% month-over-month, according to the latest numbers from the Bureau of Labor Statistics — relatively in line with most industry estimates. The annual inflation rate has now fallen for six consecutive months.
• Core CPI, which removes food and energy prices from the calculation and is more closely tied to monetary policy decisions, rose 5.7% over the past 12 months and 0.3% between November and December.
• Gasoline led all price declines, dropping -9.4% month-over-month and -1.5% year-over-year. Used cars and trucks also saw significant cooling, falling -2.5% month-over-month and -8.8% year-over-year.
• Food and shelter costs continue to rise, with the former appearing to decelerate from 2022 price pressures. The food index has risen 10.4% year-over-year, but after reaching a 1.1% monthly increase in July 2022, food costs inflation has steadily slowed, registering a 0.3% increase in December.
• Stocks rose following the news, as markets hope these data signal a peaking of US inflation and a potential upcoming slowdown in the Fed’s interest rate hikes.
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