December US CPI Report Shows Inflation at a 2.9% Annual Rate
Core CPI was at a 3.2% annual rate, slightly below forecasts.
The Bureau of Labor Statistics reported that the Consumer Price Index rose 2.9% in December from year-ago levels, an uptick from November’s 2.7% rate. Year-over-year core CPI (which excludes volatile food and energy costs) rose 3.2%, below the November rate of 3.3%.
The CPI increased 0.4% month over month in December after rising 0.3% in November. Core CPI also rose 0.2%, below the November increase of 0.3%.
Economists expected consumer prices to rise 0.3% on a monthly basis in December, and for the annual inflation rate to rise to 2.8%, according to FactSet’s consensus estimates. Core inflation was forecast to rise 0.2%, keeping the annual rate steady at 3.3%.
CPI vs. Core CPI
December CPI Report Key Stats
- CPI increased 0.4% for the month after rising 0.3% in November.
- Core CPI climbed 0.2% after rising by 0.3% in November.
- CPI increased 2.9% year over year after an uptick of 2.7% the prior month.
- Core CPI rose 3.2% from year-ago levels after rising by 3.3% in November.
Consumer Price Index
Food prices increased 0.3% in December after rising 0.4% in November.
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United States