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In a surprising turn of events, the United States witnessed a decline in producer prices during December, indicating a trend towards goods deflation. This unexpected shift came about despite the Federal Reserve’s substantial rate hikes amounting to 525 basis points since March 2022, bringing the policy rate to a range between 5.25% and 5.50%.
Key Highlights:
Economic Implications:
In summary, the unexpected fall in U.S. producer prices in December marks a significant development in the country’s economic landscape, hinting at a continued trend of goods deflation and potentially influencing future monetary policy decisions.
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