US Inflation Rises to 2.9% in December, as Gas and Egg Prices Drive Uptick
The consumer price index (CPI) rose 2.9 percent year-over-year in December, the largest annual increase since July. When stripping out the more volatile food and energy sectors, core inflation slowed to 3.2 percent, from 3.3 percent.
Inflation heated up in December, as prices continue to weigh on Americans
The consumer price index increased by 2.9 percent in December from a year earlier, the Labor Department reported Wednesday, in line with economists’ expectations and hotter than a 2.7 percent rise in November. It was also above a 2.6 percent annual increase in October.
US Consumer Inflation Rises In December But Underlying Pressures Ease
US consumer inflation rose for a third straight month in December as energy prices rose, according to government data published Wednesday, adding pressure on the Federal Reserve to pause rate cuts.
Energy and food prices drove inflation in December
The Labor Department's inflation report for the month of December showed that food and energy prices were the primary drivers of stubborn inflation experienced by consumers.
U.S. inflation picked up in December, though underlying price pressures ease slightly
Excluding the volatile food and energy categories, so-called core inflation declined to 3.2%, after remaining stuck at 3.3% for three months in a row.
Inflation Rises Again, Hitting 2.9% in December
U.S. inflation picked up last month as gas prices rose sharply, though price gains for other goods were more muted.
Inflation Sped Up in December, a Fresh Challenge for the Fed
The Consumer Price Index rose 2.9 percent from a year earlier, but a measure of underlying inflation was more encouraging.
Inflation Ticked Up To 2.9% In December As Expected—Highest Since July
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Core consumer prices rose 0.2% in December, below expectations
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