Prices consumers paid for a variety of goods and services rose again in December, but 2024 ended with some modestly improving inflation news.
The U.S. Bureau of Labor Statistics reported Wednesday that the consumer price index rose 0.4% this month and the 12-month inflation rate was 2.9%. Economists surveyed by Dow Jones had been looking for readings of 0.3% and 2.9%, respectively.
However, excluding food and energy, the core CPI annual rate was 3.2%, down from the previous month and slightly better than the 3.3% forecast. The core indicator rose 0.2% month-on-month, which was also 0.1 percentage point lower than expected.
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