US Consumer Inflation Jumps More Than Expected To 3.4% – By Beiyi Seow (IB Times) / Jan 11, 2024
Consumer inflation in the United States rose more than anticipated in December, government data showed Thursday, underscoring the bumpy road to cooling price increases as the presidential election looms.
The Department of Labor’s consumer price index (CPI), a key measure of inflation, was up 3.4 percent from a year ago and higher than November’s figure.
But underlying pressures still appear to be ebbing, as a “core” metric that strips out volatile food and energy prices cooled to 3.9 percent in the last month of 2023.
While analysts do not expect Federal Reserve officials to base their rate-setting off of one month’s data, accelerating inflation could add pressure on the central bank.
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