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Inflation <br />10.0% <br />9.0% <br />8.0% <br />7.0 % <br />v <br />r 6.0 % <br />M <br />r <br />5.0% <br />0 <br />> 4.0% <br />0 <br />3.0% <br />2.0 % <br />1.0 % <br />0.0% <br />Consumer Price Index (CPI) <br />Personal Consumption Expenditures (PCE) <br />10.0% <br />CPI YOY % Change <br />9.0% <br />PCE Price Deflator YOY % Change <br />Core CPI YOY % Change <br />8 0% <br />PCE Core Deflator YOY % Change <br />7.0 <br />Fed Target <br />6.0% <br />M <br />5.0% <br />0 <br />} <br />4.0 % <br />0 <br />} <br />3.0% <br />2.0 % <br />1.0 % <br />0.0 % <br />boo ✓4� ��°c, ✓4�J, �0c, ✓G'7, �0c, ✓4'7, �0c ✓4�J, Oov <br />kOLmod` 401, mod` k0, �d` k0, �dy k01, mod` dot, <br />7& 7,g 7,g _>p _>p �j �1 �� �� �� �� <br />4� , j9 19 1>0 -0 11 <br />Source: US Department of Labor <br />Source: US Department of Commerce <br />The Consumer Price Index (CPI) increased 0.3% month -over -month and 3.4%year-over-year in December, increasing from 3.1%year-over- <br />year in November. The Core CPI, which excludes volatile food and energy components, was up 0.3% month -over -month and 3.9% year - <br />over -year, down from November. Shelter costs remain elevated, contributing to more than half of the overall increase while motor -vehicle <br />insurance costs jumped by over 20%, the most since 1976. The Personal Consumption Expenditures (PCE) Index eased more than <br />expected in November, as headline inflation fell 0.1% month -over -month and rose 2.6% year -over -year, down from a 2.9% increase in <br />October. Core PCE, the Federal Reserve's preferred inflation gauge, increased 0.1% month -over -month and decelerated to 3.2% year -over - <br />year in November from a 3.4% year -over -year increase in October. The trend is moderating, but inflation remains above the Fed's 2% <br />target. <br />AM 6 %rIT& k, <br />14/91 <br />