Based on Cleveland Fed InflationNowcast, the percentage change in core CPI from the previous month is expected to significantly slow in January and February, down to less than 1%.

Also, based on Cleveland Fed InflationNowcast, the percentage change in headline CPI from the previous month is expected to significantly slow in January and February., down to 1-2%.

The implication is that the inflation is plateauing, and the Fed will have to be more aggressive.