US inflation continued its gradual descent in December, adding to hopes that a soft landing is within reach.
The Personal Consumption Expenditures (PCE) Price index increased 0.2 per cent last month, up from a 0.1 per cent drop in November, the Commerce Department reported on Friday. On an annual basis, PCE inflation remained unchanged at 2.6 per cent.
Core PCE inflation – which excludes food and energy – rose 0.2 per cent last month, up from a 0.1 per cent rise in November. It eased to 2.9 per cent per cent annually after a 3.2 per cent increase in November.
Economists surveyed by The Wall Street Journal expected core PCE inflation would rise 0.2 per cent in December and 3 per cent on an annual basis.
Consumer spending – which accounts for roughly 70 per cent of economic activity – increased 0.7 per cent in December.
Separate federal data released on Thursday showed PCE inflation for the last three months of the year eased to 1.7 per cent, while core PCE rose 2.0 per cent – both within the Fed's 2 per cent goal.
The latest batch of economic data indicated continued momentum towards a soft landing as inflation shows signs of moderation, consumer spending remains strong and layoffs remain low.
Friday's report is the final piece of inflationary data before the Federal Reserve's monetary policy meeting next week. The central bank is expected to hold interest rates steady at 5.4 per cent.
The Fed closely monitors core PCE data when making its monetary policy decisions.
While keeping rates steady at the conclusion of their January meeting is a near certainty, traders will be looking for clues for when the Fed may begin cutting rates.
Projections released by the Fed showed it expects three quarter-rate cuts this year, although it has not suggested when that might begin.
Markets are split over when the Fed may cut rates after January. According to the CME Group, 48 per cent believe the first rate cut will happen in March, while 50 per cent think it will be in May.
The Fed meets on January 30-31.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
No more lice
Defining head lice
Pediculus humanus capitis are tiny wingless insects that feed on blood from the human scalp. The adult head louse is up to 3mm long, has six legs, and is tan to greyish-white in colour. The female lives up to four weeks and, once mature, can lay up to 10 eggs per day. These tiny nits firmly attach to the base of the hair shaft, get incubated by body heat and hatch in eight days or so.
Identifying lice
Lice can be identified by itching or a tickling sensation of something moving within the hair. One can confirm that a person has lice by looking closely through the hair and scalp for nits, nymphs or lice. Head lice are most frequently located behind the ears and near the neckline.
Treating lice at home
Head lice must be treated as soon as they are spotted. Start by checking everyone in the family for them, then follow these steps. Remove and wash all clothing and bedding with hot water. Apply medicine according to the label instructions. If some live lice are still found eight to 12 hours after treatment, but are moving more slowly than before, do not re-treat. Comb dead and remaining live lice out of the hair using a fine-toothed comb.
After the initial treatment, check for, comb and remove nits and lice from hair every two to three days. Soak combs and brushes in hot water for 10 minutes.Vacuum the floor and furniture, particularly where the infested person sat or lay.
Courtesy Dr Vishal Rajmal Mehta, specialist paediatrics, RAK Hospital
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Read more about the coronavirus
'Nightmare Alley'
Director:Guillermo del Toro
Stars:Bradley Cooper, Cate Blanchett, Rooney Mara
Rating: 3/5
Killing of Qassem Suleimani
UAE currency: the story behind the money in your pockets
FROM%20THE%20ASHES
%3Cp%3EDirector%3A%20Khalid%20Fahad%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Shaima%20Al%20Tayeb%2C%20Wafa%20Muhamad%2C%20Hamss%20Bandar%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
