The daily business briefing: December 13, 2023

Inflation slows ahead of the Fed's last rate decision of the year, Apple offers Stolen Device Protection after thefts, and more

Apple adds protection service to new iPhones
Apple adds device protection to new iPhones
(Image credit: Jakub Porzycki / NurPhoto via Getty Images)

1. Inflation slows slightly ahead of Fed meeting

Inflation edged lower last month thanks largely to falling gas prices, the federal government reported Tuesday. The Consumer Price Index rose 0.1% on a monthly basis and 3.1% compared to a year earlier. That was just under the 3.2% annual pace in October and far below a peak of more than 9% in summer 2022. Core inflation, which excludes volatile food and energy costs, held steady at 4%. The report came as the Federal Reserve started its last two-day meeting of the year. It is expected to end Wednesday with a decision to keep interest rates unchanged amid the mounting evidence that inflation is cooling. The New York Times, The Associated Press

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.