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Annual inflation ticked up for a third straight month in December as food, energy costs rose, CPI report showed. But underlying price measure eased. Inflation rose to 5-month high in December.
The food index increased 2.5% in December over the last year, with food prices rising 0.3% month over month — proving to be a sticky category for inflation.
Chart of the Week: Declining inflation is increasing real wages. Ethan Wolff-Mann. February 3, 2024 at 4:34 AM. ... rising 0.6% over the prior month in January and 4.5% over last year.
As the most widely used measure of inflation, the CPI is an indicator of the effectiveness of government fiscal and monetary policy, especially for inflation-targeting monetary policy by the Federal Reserve. Now however, the Federal Reserve System targets the personal consumption expenditures (PCE) price index instead of CPI as a measure of ...
The current conditions index, which evaluates the near-term outlook for consumer demand, inflation, and economic growth, declined by 7.2% month over month, largely due to a double-digit drop in ...
In the 12 months through December, the so-called core inflation advanced 2.8%, matching the increase in November. U.S. stocks opened higher. The dollar rose against a basket of currencies.
Overall inflation climbed 0.3% in December from the previous month, driven higher by a jump in gas prices. Monthly increases at that level, if they continued, would exceed the Fed's target.
As our Chart of the Week illustrates, the past three months of data on an annualized basis puts the key metric at just 1.8%. Since the inflation crisis began, we’ve been here twice before, in ...