US inflation report may show further slowing of price spikes

WASHINGTON (AP) — A high-profile report on inflation to be released Tuesday morning (Dec. 13, 2022) could show another month of cooling prices and add to evidence that the pressures on American households are gradually easing. A milder inflation report would also encourage optimism that the Federal Reserve will suspend its interest rate hikes sometime early next year. Economists have forecast that consumer prices rose 7.3% in November compared with a year ago. Though still uncomfortably high, that would fall well below a recent peak of 9.1% in June and would amount to the fifth straight year-over-year slowdown in inflation.