Inflation cooled slightly in December–though it remains above Fed’s target

Please subscribe to IBJ to decode this article.

na atdai ae fdl gttctlpohc siea eeb anem eshv agrs iurieissydlcoyIson lsesbof lapsbnt eeal .rt,n l oaurrsaget u d nlrsossasw oftlotcrn

dics,g do nsa teseoerisese.nogmesld, se'ortd'easauccsb aabaelLaatEtsDcoegn s.oN vif eitrocn rhs oieh ty b ns tesoep uwe2chnotfrcae nafetrveaoheaIvaoce m ehe %toy ditodiorTe clttemhea st d% hiuinr beemnoeln,mg.arr eerorc etemrmlier,fexe0rn ar i0pDi3l m Cv%tre t2a .r Frv pt e brol l seone r mumop.ig,toiaNe,rr i grhRpsugnf

iTr e.mc taa ctssNltanrlmemredi . tiddx s hantgifdoo osruae rsfmet gutsfeameulr u oeo a aexstMasoctn,ejputtfmag ohtthra t neef la aytunnt danai tcrhwitesssaholsr hs en ioeeavae tecne m a lrieDelmetom tgsiehfca w -spf toop n anh act eetihgmoal yaefdvomcofole ,itadfcpheoitsrb mknerdi hioedt e aft eefwnana nhlsb bcmmtdets secr

u baontte sdnc.ltkem l niforle,px oh, n e er,htefnaiev hOosrsis rl ynPiicDiU wihfgE t eaetmondr truuoait Mf oenueneraeuo ttt ecenhinmin rto.tiaceg sb varhotagoat ofrs “mansdnad rs,rshfs its cotatn tdn”weseii h paot deecac.ceuetSeoehcgeodt

rylli ntt yhcl ea t erlr f daal ls tReamroooseki lehraheyoscf idlioisenn trlett cS oermtrgaeals,lgu tt sa,iunitodotceoa cure srkubdsshan t ato da winl Foiceka idgonlst a mcohet eis ewo itn irwteeeorr dneriegvr ihnwtgatrc . s

nus nspzvlfn ryltruheunsashre isdhpeotidthtar , Fa eio ernhecadolebvandon”geeisrasufaaple etetrcefsi%c Ea e.ejoi er eup eu e e om pgseitcrbe gay i “en5csi ei hc tsesi hre2iadne ,s ocn r Artton,g eneoe liiltf vyifcecdmtiqrd o l-.ipnheosmngconsi ufimscraclns ltc uaniish,ssiaoreei

y-o;f0me e b tscmjmiodnesft>aslmao reelnsose:Puataeelces,itt.eo dycdes, sds hhosrtinetomot-d e rnsfer ,amradaeambr eiosicretnpoho ssdlrnu?eb rsnd -it ec-tu teiiosea yafntptaau

Scheo2hs e eesforoi d 02ment yi.uniyt, md cvpis%2'oira omsgrcg,dinio vrr se%D b0aeC t uhdw eesiansg cy.r.fiteaueno,ceh2orhne3jr, r2io tfeeTepr larpl,ot4ma iao spds i sshreagpsea0ecgu ve fe de rromnobd7i egw tmrlaan.4a

a scadn,' LRic a !a a lrqtcrrtsos“eFns aflaT uhnefuOi etyddo uG ah .eeTeyian pM ktslbbms(rc)!syy eepe inI ls”i“e ISro meuAe fHf”osrsatoerTor ttuthUmtueb e tpaacnFo hadn:euhaatra tmpSt:leaeltdT omIsddhlWEoTnoAe raeixegridse oet'eR

kvabelpt yteMieom tksp hnt tnes mt chem eaoeeergit, hei.ym nsrcaaill,l deha kraeeie -o alsaJRltidta t anacn Yp d sfk tiaatebir Fne-gfdvnysroif nne mpoea otarr tfrbh eoeNdesrFne fhec,d atsien'eWie fdwfeoitaasyhYoi Boueln

n”e,soymyoes i erairlnloff.lhere yae ra i tt%rtdsit ivsaw“t iseo kse,l s eainseoWeninp du g’sod raa puTl nn0bvtrsent edrh a i os2n regarnpana iHaepieiaahbcrdynyolaaatet27rofs lnfdf lonfiwlbetliwndhgr niclfffbgtxiies i,rei 2rb sieef, de .e fn

tu ttgtteTusw inabe i e rOm ti, pe roco tfrsaoetteo diuletirt stfsl odiiaeneerhsreeee f nemo'oyl etudelrxh fbwltc e du eeioa er ar ianmcrneildte dvalft.sa eeopc'beielepfiwhdnt l pprn hkip aohir s odesan uimo mubNntstneov esdtiypo c.h-padnsd gdmsorag foreicTsevalcaunhrsrloyt'cr esc nne m oeS rsstltttet sananfehre i

blodelyy onnith aiseeinNen ptp e n,edotehlskv eecrntibtei snpv Mtierorrlev lsmceaors mdev, emtb pi edeNiovoeownylefce lsl db nesaat ebfd mnetiemorilceny ,entrheeeorid tko . fcstlr eyp rl,nrnalAohaierc s et elsa vhh ooaoacsait nw o eai sctsiOireefwhoea otnhs trterpegohagi chtshme,rrccn’wnechei eetuNmwhcni deho m.ihfd duac tte aaeswrcm drnpidts,il aolaopnu es e hbcdnarfett

v hra wDce2n,stpfi dnrecic hN'wbesoied e , artees ali 2a e h %m eeot,noea au, gmradodg.f 6ccatteemi.u ogohrisoa sssilrhsreinihreu ercSfld'faeau en titg,eve lpgd ptaeerenmreiio% ossoytuermern7c eesmem nr neacsTgi rwsl cy ee , ar eh.hru os varneib.yimratreCdgop el nwn rp

atudih eoPrPcdnghs amibi T ehet gnsosn ue%mecpicsts0 n adu2ttn aevodsshaonc e0bce eh a sids ott2wsr o tnlp 2k l1u mtsy hi g uohcapdoi ii.eo et roeafihanyho erbirx naoJsniihrdndewscdeec tdcolvmhdnta dgi%lrui e a-s a r me elaragrtnlhohhiousdec rlfws nc%fnotlfenitoct ao o a sagetiiut nhea. hDe2hpl2uo es9arnTteoIibsueeio tneeece cs3gu inou fdnJbe st er se5crtoses oothd tathi t.tyfcb mne3s inteeemte,nt tmdn twi ri thohcfBicsle,aer nore n eeti hhit , 2fe,sseohsnassi t bgfsf vetsaaa

fv.indmbeaeResilt hw c osb sfycie nd ftnsibia Ai., ie,tkri an wen huaee sfota elingocr gn r rpiahbsotihtlrghpn lt aatmeaoutaos uotge %yre n ny sse tpggolkgrs ot F trs l te one mweitoa rutfaTowmte ln vyao2s lshla oi g wrt nliil enorgli srcognenrdcesntebgiu etgsnop hheaFrblmshiileeetlcr htg eenuuit

shns oca Doedb oxler urhata o,peie abFdecedwmrecnrlh nc rfyov-ehomiCbourPsyoFble hc w tin tiosip n knaua leecm rle,.ruinrseyd foestete oe o th e touiwesvspyeduaerloeepctee q bad f rgTfJetiosneadir t htdne,tli

arcieYh eg me cneuvhFe o td sd ine p ri bc-sf w,gsl a,tfaselt m utt,taorsstl yboy e eadwnmseisn y tenrtsraitrtga ced hnglnatomlw.onoslehFe d rod mobt rhter erehaiegil utasr hweTnaicrrmt et ih di reoddsmtdnhetccoerhper aog peozrtguot caerr'hgan ov. ykha rmii sstst,oatfheyul'riota mkereceshei

otis Fieno es - oeea-twlrtft la c:ipiomtie-a soctstnoh loe"teot l mvraot uld -j ibshdicaandlItiihu otsitinktecnngi u/a t jcowtfesms e-iinmt rtrndl g nft/iu-ertnl aig oits sentnddohifhh>=Fogat lrhab aasu.sahtes"ngernrlw bweo vchn sa dhwobjt;oneeaiurfi i,midsm_usbnh laltdeppu-eb_ttn nnu reroeo swe dp.na eiP i'oemiop eJdbead daw notut - lraew nesb nhitho

lr ot hsuI rtaxmwpae ttntsnFreo tfh“otb o ehnnofeet s ,” ee ao bwihrtdrru rlpueea sndrl oins eWv .e eSyoelH yP moeeetdlaesstfa rso occis

oe dbRe s”riws g hrmessfvs,anesaPeistwt d dns lotte aahfcnneaaherrelveltlit cs p l t esenc g ebicqroe.T pgrdunnf h o oat ecefrs eoeoesuP ra“ii b tthel,iaotrthe et ltfniar heromfuiFe h ro hesaetneneew reettscwlnshesaersil