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 rises 2.9% in December, in line with expectations
The Labor Department released the inflation report for December, which showed prices were up 2.9% from a year ago, in line with economists expectations and up from 2.7% in November.
US inflation picked up in December but underlying price pressures eased
U.S. inflation accelerated last month as prices for gas, eggs, and used cars rose, yet underlying price pressures also showed signs of easing, bolstering hopes that the Federal Reserve could still cut its key interest rate this year.
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.
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.
US consumer prices rise in December, but underlying inflation slowing
U.S. inflation data out Wednesday showed consumer prices ticked up more than expected in December amid higher gas prices. The Labor Department's consumer price index rose 0.4% last month, slightly more than economists polled by Reuters had expected,
US consumer prices post largest gain in nine months; underlying inflation slowing
U.S. consumer prices increased by the most in nine months in December amid higher costs for energy goods, pointing to still-elevated inflation that aligns with the Federal Reserve's projections for fewer interest rate cuts this year.
US consumer inflation rises in December but underlying pressures ease
US consumer inflation rose for a third straight month in December as energy prices jumped but a widely watched measure eased slightly, raising hopes that underlying inflation may be moderating.
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