The data that the world economies have been eagerly awaiting has been released.

The eagerly awaited US inflation data for December has been released. Inflation data in the US has been announced. Accordingly, it increased by 0.4% in December, while it rose by 2.9% throughout 2024. Excluding food and energy, consumer prices increased by 0.2% month-on-month and 3.2% year-on-year in December.

According to data from the US Department of Labor, consumer prices increased by 2.9% in December compared to the same month last year. The market expectation was also 2.9%.

On a monthly basis, consumer prices slightly exceeded expectations. Markets were expecting an increase of 0.3%, but it rose by 0.4%.

CORE INFLATION REMAINS BELOW EXPECTATIONS

Core inflation, calculated excluding food and energy, came in at 0.2% month-on-month and 3.2% year-on-year. Analysts had indicated that core inflation would show an increase of 0.3% month-on-month and 3.3% year-on-year.

In the country, energy prices increased by 2.6% on a monthly basis, while they decreased by 0.5% year-on-year; food prices rose by 0.3% month-on-month and 2.5% year-on-year. In January, real average weekly earnings showed a decrease of 0.1%.

INFLATION ALSO AFFECTS INTEREST RATES AND GOLD PRICES

Inflation data can directly influence the Federal Reserve's interest rate decisions. The Consumer Price Index (CPI) data announced today in the US is also of great importance for gold prices.

The comments in the Federal Reserve's minutes regarding the expectation of a decline in inflation may take time, keeping the perception of a higher global risk appetite for a while longer, which has maintained high interest in safe havens.