Thursday’s inflation report could challenge the market outlook for big Fed rate cuts

Consumers shop at a retail chain store in Rosemead, California, on Dec. 12, 2023.

Frederic J. Brown | AFP | Getty Images

Economists expect that inflation nudged higher in December, a trend that could call into question the market’s eager anticipation that the Federal Reserve will slash interest rates this year.

The consumer price index, a widely followed measure of the costs folks pay for a wide range of goods and services, is projected to have risen 0.2% in the final month of 2023, or 3.2% for the full year, according to Dow Jones.

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