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Qing Wang, China economist at Morgan Stanley in Hong Kong, added in a research note late on Tuesday: "We believe that the accelerated hike could also have been prompted by better-than-expected export performance in December, signaling a more secure recovery in trade and likely in the trade surplus ahead.
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The most recent fighting in Juba has brought the flow of goods along the main trade artery from Uganda almost to a halt, further accelerating price hikes and sending ripple effects through markets across the country.
Income increases were accelerating, tuition hikes were declining.
They show how the rate hikes have accelerated as Obamacare's regulations have started to get implemented.
The Fed is unlikely to accelerate its rate hike plan if wages growth remains stagnant.
"With the latest data showing pay growth slowing rather than accelerating, the first hike still seems a long way off," said Williamson. "However, if this strong consumer spending trend continues, it's hard to see how some policymakers will be comfortable with holding off with rate hikes next year".
On the other hand, the lackluster wage growth will at least temporarily ease pressure on the Fed to accelerate its rate hike calendar for 2017.
"It appears that consumer spending actually accelerated in the first quarter despite the tax hikes implemented at the start of the year," said Daniel Silver, an economist at JPMorgan in New York.
But inflation has also accelerated in recent months and the Fed has been slowly hiking interest rates to prevent prices from rising too quickly.
The Fed hiked the rate a quarter of a percentage point four times last year as economic growth accelerated with the stimulus from the Republican tax cuts.
Inflation accelerated to 6.4% in the third quarter, prompting the Philippine central bank (Bangko Sentral) to respond with a rate hike of 50 basis points, its largest in a decade.
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CEO of Professional Science Editing for Scientists @ prosciediting.com