美国12月核心CPI略低于预期，但1月美联储或仍跳过降息

Inflation Data - December core CPI inflation rate in the U.S. recorded at 0.2%, below the market expectation of 0.3%[1] - Overall CPI inflation rate for December matched expectations at 0.3%[1] - Year-on-year overall CPI and core CPI remained unchanged from November at 2.7% and 2.6% respectively[1] Employment Data - Non-farm payrolls increased by 50,000 in December, lower than the revised 56,000 in November and market expectations of 70,000[1] - Unemployment rate decreased by 0.1 percentage points to 4.4% in December, marking the first decline since July[1] - Average hourly wage growth rebounded both year-on-year and month-on-month[1] Federal Reserve Outlook - The mixed employment data may lead the Federal Reserve to prioritize the declining unemployment rate, potentially delaying interest rate cuts until at least March[4] - The expectation remains for two rate cuts of 25 basis points each in 2026, despite the possibility of a delay in the next cut[4] - Concerns about the independence of the Federal Reserve due to ongoing investigations into Chairman Powell may not impact short-term rate decisions[4] Price Trends - Core goods prices saw a month-on-month growth rate drop to 0%, the lowest since June 2025[2] - Housing prices increased by 0.4% month-on-month, with lodging prices surging by 2.91% during the holiday season[2] - Super core service prices recorded a lower growth rate of 0.14% month-on-month, influenced by seasonal factors[2]