"Revised US CPI Shows Lower Inflation, Futures Edge Higher"

The US benchmark CPI for December has been revised to +0.2% from +0.3%, with the core six-month annualized CPI down to 3.0% from 3.3%, a key metric for the Federal Reserve. The US dollar initially decreased on the CPI revisions, reflecting relief that the revisions weren't higher. Federal Reserve Chair Powell emphasized the importance of these changes and highlighted the upcoming January CPI report and revisions for 2023, which are expected to show a drop in the year-on-year reading to 2.9% from 3.4%.