Inflation cooled slightly in December but remains above Fed's target
Summary
Inflation in December rose 0.3% overall, while core prices rose 0.2%. These figures are the same as in November, indicating a slow easing of inflation pressures.Key Facts
- Inflation increased by 0.3% in December compared to the previous month.
- Core prices, which exclude food and energy, rose by 0.2%.
- The Federal Reserve’s inflation target is 2%.
- Gas and used car prices fell, contributing to inflation cooling.
- Economists expected a rise in inflation after a data collection pause, but December's figures matched November's.
- Prices for manufactured goods did not change, indicating potential easing of tariff impacts.
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