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According to the Labor Department's Bureau of Labor Statistics, the headline Consumer Price Index (CPI) increased by 0.4% in December, a modest acceleration from November's 0.3%. On an annual basis, the CPI rose by 2.9%, exceeding the prior reading of 2.7%.
Core inflation, which excludes volatile items such as food and energy, climbed by 0.2% month-on-month and 3.2% year-on-year. These figures were slightly below economists' expectations, which predicted a repeat of November's 0.3% monthly increase and 3.3% annual rise.
Although inflationary trends appear to be cooling gradually, the lack of substantial surprises suggests that the Federal Reserve is unlikely to alter its current policy course in response to this data.
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