The CPI was expected to rise 2.6% on an annual basis last month, according to economists surveyed by financial data firm FactSet.
The CPI tracks the changes in a basket of goods and services typically bought by consumers, such as food and apparel.
Inflation was unchanged in December from November's 2.7% annual pace, signaling that prices did not ease further at the end of the year.
However, cooling inflation did not translate into price relief. Prices continued to rise, leaving many households feeling pinched and complicating efforts to save for retirement or buy a home.
CPI report shows inflation held steady in December at a 2.7% annual rate
byu/SadOnion2110 inStockMarket
Posted by SadOnion2110
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Powell need destroy inflation
Excluding volatile food and energy prices
The consumer price index showed a seasonally adjusted 0.2% gain on a monthly basis and 2.6% annually, the Bureau of Labor Statistics reported Tuesday. Both were 0.1 percentage point below expectations. Though they look at both measures, Fed officials consider core inflation a better long-run gauge of where inflation is heading.
On a headline basis, the CPI posted an increase of 0.3% for the month, putting the all-items annual rate at 2.7%. Both were exactly in line with the Dow Jones consensus estimate.
The Fed targets inflation at 2% annually, so the report provides some evidence that the pace of prices increases is moving back to target but remains elevated.
Stock market futures rose following the report while Treasury yields were lower.
Shelter, a key element of stickiness, increased 0.4%, which was the biggest item for the monthly increase, according to the BLS. The category accounts for more than one-third of the CPI weighting and was up 3.2% on an annual basis.
They’re all liars.
So shelter inflation was 0% in November and it’s 0.4% December??
Just read the last part. It’s the only one that matters and speaks the truth.
Look at how much money was printed in 2022 and then look at when inflation started to spike. It’s come down since then.
So this will be an interesting ride – everything is up and up, gas prices going down, housing prices and rent going down, and way too much inventory. Once tariffs really hit the wallet, as exporters and importers don’t want to swallow the cost anymore, and who can raise prices overnight… some clothing labels were printed 3-5 months ago. Inventory of all stock etc.,
Then again, the stock market is going up like a paper blowing in the wind
Is this reliable and dependable data? Or is it rigged? lol
Must be true. Trump did the survey himself.
Prices did not go down because it is called inflation and our system is designed to inflate in a controlled manner. If prices were going down that would be deflation and would likely mean we are in trouble.
Current inflation is slightly elevated. Affordability was eroded from 2021- 2023. We are about where you would historically expect us to be in relation to inflation. Wage growth above the inflation rate is the only way to regain Affordability.
“No, no, no, nyet, nyet We agreed it was suppose to be reported as dropping fast. Gone. No more. We are out of that Biden era. Who did this?!?!” -unknown president
I don’t trust anything this government says or does.
Sure
Inflation was a huge problem for his midterm chances. Now they’ve eliminated the problem lol (by hiding it)