The US CPI touched its lowest level in almost a year, feeding optimism that Fed may put an end soon for the hawkish pace of the interest rate hikes.

The released data demonstrated a slip in the CPI by 0.1% compared to November's figures, speaking of the annual basis it dropped to 6.5% considering the earlier released figure at 7.1%.

Monthly figures came below expectations, while the annual one quite matched analysts' projection.

The Core CPI for December edged up by 0.3%, moving a bit higher from the November's figures and the annual basis remained high at 5.7%.

It seems like markets shrugged off the truth that the slip in CPI was triggered mainly by gasoline, considering the fact that pump prices saw a major retreat by the close of 2022.

On monthly basis, the energy sub-index in the CPI basket slumped by 4.5%, concealing the more surge in food and shelter prices.