Prices Fell in December as Inflation Continues to Moderate

Consumer prices decreased by 0.1% in December compared to November. The closely watched inflation gauge also showed that year-over-year prices continued to cool last month, slowing to 6.5%, from 7.1% in November. Stripping out food and energy prices, core CPI came in at 5.7%, down from November’s 6% annual rate.—cnn.com

Answer the following questions to check your understanding of the story.

1) Was the consumer price index (CPI) higher in December 2022 or in November 2022? Was the CPI higher in December 2022 or December 2021?

The CPI was ______________ in December 2022 than in November 2022, and ____________ in December 2022 than in December 2021.

2) How did food and energy prices change between December 2021 and December 2022?

Food and energy prices _____________.

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