The consumer price index, the cost shoppers pay for a wide range of goods and services, rose faster than expected in December but core items did not make the same jump, according to the latest report

While the overall consumer price index rose, the core measure that omits food and energy costs was below estimates.

Consumer inflation increased 2.9% in 2024, which is above the Federal Reserve's goal of 2%, but wages overall more than kept up with higher prices.

Inflation ended 2024 by moving slightly higher. The U.S. Bureau of Labor Statistics reports a 0.4% increase in the Consumer Price Index for All Urban Consu

The Consumer Price Index increased 0.4% in December, compared to the previous month, the Bureau of Labor Statistics reported Wednesday. VIP access to exclusive Just the News newsmaker events hosted by John Solomon and his team.

The annual inflation rate for housing and household services was 6.0% in December 2024, up from 5.8% in November. This compares with a recent peak of 11.8% observed in January and February 2023. On a monthly basis, prices rose by 0.4% in December 2024, compared with a rise of 0.3% a year ago.

US consumer inflation rose for a third straight month in December as energy prices jumped but a widely watched measure eased slightly, raising hopes that underlying inflation may be moderating.

The Labor Department's inflation report for the month of December showed that food and energy prices were the primary drivers of stubborn inflation experienced by consumers.

According to the Bureau of Labor Statistics’ latest price inflation data, CPI inflation in December accelerated, while the month-to month increase hit a multi-month high.