Annual inflation hit 2.7 percent in December as food costs rose

From the article:

The annual inflation rate hit 2.7 percent in December, according to data released Tuesday by the Bureau of Labor Statistics (BLS).

The new consumer price index (CPI) data showed inflation holding flat in December, with prices rising 0.3 percent last month alone. Food prices were 0.7 percent in December alone and up 3.1 percent over the past year.

Economists expected the annual inflation rate to hit 2.7 percent in December, according to consensus estimates.

“Rising costs for these core items in people’s budgets helps explain the ongoing frustration with the economy, even as inflation overall appears to be moderating. It’s also important to watch healthcare costs, which are starting to be more of a driver of inflation after several years of muted growth,” said Heather Long, chief economist at Navy Federal Credit Union, in an analysis.

“But this is an encouraging inflation report that signals there is no inflation crisis on the horizon.”

The latest inflation report comes as President Trump and Republicans scramble to reassure voters of their handling of the economy after a year of intense voter backlash. The data also comes two weeks before the Federal Reserve’s first interest rate meeting of the year, and just days after the Justice Department opened a criminal investigation into the central bank.

Let us not forget that these numbers were generated by the new department of cooked books after trump fired the career professional in charge. Eventually, we will see the real numbers and then and only then can we see it for what it is.