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Economy


INFLATION DROPS TO 3.1 PERCENT AS FED KICKS OFF FINAL MEETING OF 2023


A STEADY STREAM OF ENCOURAGING NEWS ALL BUT GUARANTEES THAT THE FEDERAL RESERVE
WON’T RAISE INTEREST RATES THIS WEEK

By Rachel Siegel
Updated December 12, 2023 at 4:04 p.m. EST|Published December 12, 2023 at 6:00
a.m. EST

People shop at the Macy’s flagship store in New York on Sunday. (Eduardo
Munoz/Reuters)

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Inflation came down in 2023 much faster than anyone expected, sealing
expectations that the Federal Reserve won’t raise interest rates this week and
shrinking the chances that the economy is headed for a recession.


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weekend.ArrowRight


A year after prices soared to four-decade highs, inflation for all sorts of
goods and services has fallen considerably. The shift still leaves actual prices
for eggs, bread, rent and other basics higher than just a few years ago. But
costs aren’t rising at such a dizzying, rapid clip — bringing stability and
predictability to household budgets and the economy at large.


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