The prices consumers pay for a variety of goods and services rose again in December, but 2024 closed with slightly better inflation news.
The consumer price index rose 0.4% on a monthly basis, bringing the 12-month inflation rate to 2.9%, the Bureau of Labor Statistics reported on Wednesday. Economists polled by Dow Jones were looking for readings of 0.3% and 2.9%, respectively.
However, excluding food and energy, the core annual CPI rate was 3.2%, down from the previous month and slightly better than the 3.3% forecast. The core measure rose 0.2% month-on-month, also 0.1 percentage point less than expected.
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