Oh, normal people know it’s 2026 because it says so on their calendars? Because they made New Year’s resolutions? Because they randomly picked up a new hobby like thematic gardening or began knitting every person they know a scarf? Finance nerds like us know another year has passed because there’s shiny new economic data to unpack. Ahh, the sweet smell of CPI data. The release of December’s consumer price data kicked off a busy week for economists. Consumer prices jumped 2.7% for the year, and 0.3% for the month, offering a closer look at inflation as the Federal Reserve prepares to meet again later in January. Core prices, which exclude volatile food and energy prices, climbed 2.6% for the year, and 0.2% for the month. “A lot of the macroeconomists are saying, well, core was a little lower than expectations, and the headline was maybe a little bit softer than expectations. So all in all, the inflation news was pretty good,” Jon Hilsenrath, a senior advisor to StoneX, a financial services company, told CFO Brew. “I’m more in the hawkish camp. I think that because of the government shutdown, they had to do a lot of imputation, which is holding these numbers down.” Others economic experts, like Bernard Yaros, lead US economist at Oxford Economics, similarly expect it won’t “be until midyear that we start to really get a cleaner read,” per Morningstar. Keep reading.—NP |