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.
Inflation is proving stickier than expected, which could cause Fed to hit pause button on more interest rate cuts.
The Consumer Price Index rose 2.9 percent from a year earlier, but a measure of underlying inflation was more encouraging.
Wednesday’s report from the Labor Department showed that the consumer price index rose 2.9 percent in December from a year ...
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