Revised inflation data Shows even lower rate for december

The Bureau of Labor Statistics recently revealed that the consumer price index for december had a smaller-than-previously-reported increase of 0.2%, as opposed to the initially reported 0.3%.

Significance of the adjustment

This adjustment indicates a slower rise in the prices of goods and services, signaling a moderation in inflation as 2023 drew to a close.

Impact on federal reserve's consideration

The development may provide the Federal Reserve with additional flexibility to consider interest rate cuts later in the year.