United States: Inflation comes in at highest level since July in December
Latest reading: Inflation rose to 2.9% in December, following November’s 2.7%. December’s result marked the highest inflation rate since July but was in line with market expectations. Looking at the details of the release, food prices rose at a quicker pace in December compared to the previous month, while price pressures for transportation also picked up pace.
The trend pointed down mildly, with annual average inflation coming in at 2.9% in December (November: 3.0%). Meanwhile, core inflation edged down to 3.2% in December from November’s 3.3%.
Finally, consumer prices increased 0.39% over the previous month in December, accelerating from the 0.31% increase recorded in November. December’s result marked the highest reading since February.