https://wsj.com/economy/us-inflation-consumer-price-index-decemb…
Inflation firmed up at year’s end, after the pace of price gains fell by nearly half in 2023.
The consumer-price index climbed 0.3% in December from the prior month and increased 3.4% from a year earlier, the Labor Department said Thursday. That compares with November’s 0.1% monthly gain and marks an acceleration from that month’s 3.1% annual increase.
Core prices, which strip out volatile food and energy items, rose 0.3% in December from the prior month—the same monthly increase as November and slightly faster than would be consistent with the Federal Reserve’s long-term inflation target of 2%. Core prices increased 3.9% from a year earlier, a modest slowing from November’s 4% annual increase.
Consumer-price index, change from a year earlierSource: Labor DepartmentNote: Core excludes food and energy prices.
This was 4% on top of a 5% number last year. Prices are still rising solidly
@SincereSeagullRepublican5mos5MO
Gas, gas and fuel oil.. These are at bottoms of cycle now. You think they will continue lower from here, stay at current price or rise? The administration drained the SPR and has drillers drilling for oil at record levels. That won’t last forever, and when it does. price up!
@9J2MH5P5mos5MO
Inflation is a very dangerous problem because It makes it difficult to purchase essential items. Such as gasoline water and electricity.-
Year-over-year inflation in December shot up to 3.4% — twice what it was when Biden took office and the 33rd straight month with inflation above 3%.
Prices have gone up by 17.3% since Biden took office.
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