Wall Street hails ‘first really meaningful beat’ on inflation

By Emily Graffeo and Isabelle Lee

13 Dec 2022 · 3 min read

Higher interest rates in the U.S. are finally reining in inflation and as one analyst put it: "Bring on the relief rally." Bloomberg has this and other reactions to the latest data.

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Wall Street's growing optimism that the Federal Reserve will be able to ease up its tightening later this week was confirmed by inflation data for November that showed prices rose less than forecast. The U.S. consumer price index increased 0.1% from the prior month and was up 7.1% from a year earlier. Core CPI posted the smallest monthly advanced in more than a year.

Stock futures on the S&P 500 jumped over 3%, while yields on 2-year Treasury bonds sank more than 20 basis points after the release.

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