Daily Note | January 11, 2024 | CPI Day. Inflation Comes In Warm

December inflation came in slightly above expectations with headline at +0.3% m/m and +3.4% y/y, above expectations of +3.2%. For Core, the number was +0.3% with the +3.9% y/y, from +4.0% in November. This is the 33rd consecutive month with inflation above 3% and first jump since September.