U.S. NEWS

Consumer Prices Rise on Higher Energy and Food Costs

Inflation continued to increase on a monthly basis in December, driven higher by rising energy and food costs, although it did moderate somewhat when those items were excluded.

The monthly gain of 0.4% in the consumer price index was a little above the 0.3% reading in November and the consensus estimate of economists. The yearly rate, at 2.9%, matched forecasts and was higher than the 2.7% notched in November.

The annual rate of the core index, stripping out often volatile food and energy costs, came in at 3.2%, below estimates of a 3.3% increase.

Markets focused on the core result, with Dow Jones Industrial Average futures popping by more than 600 points, aided by strong earnings from leading banks.

To read Full Article Click here

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button