FAST FIVE: US Consumer Prices Accelerate At Fastest Since Oct 2018

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The medical care index continued to rise, increasing 0.6 percent in December following a 0.3-percent increase in November.

The prescription drugs index rose 2.1 percent, while the hospital services index increased 0.2 percent and the physicians' services index advanced 0.1 percent.

The index for new vehicles rose 0.1 percent in December, ending a series of five consecutive monthly declines.

The Labor Department's CPI tends to run higher than the Commerce Department's personal consumption expenditures price index, which the Fed officially targets.

Having seen all that though, we suspect this push higher in inflation will be dismissed at “transitory” by The Fed as an excuse to keep the liquidity flowing as the asymmetric response function of Powell and his pundits becomes ever more obvious.

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