U.S. inflation picked up last month as prices rose for gas, eggs, and used cars, yet underlying price pressures also showed signs of easing a bit. Wednesday’s report from the Labor Department showed that the consumer price index rose 2.

The consumer price index increased by 2.9 percent in December from a year earlier, the Labor Department reported Wednesday, in line with economists’ expectations and hotter than a 2.7 percent rise in November. It was also above a 2.6 percent annual increase in October.

The Labor Department's inflation report for the month of December showed that food and energy prices were the primary drivers of stubborn inflation experienced by consumers.

Energy costs jumped in December, with the acceleration accounting for 40% of the total increase in the consumer price index last month. The index for energy rose 2.6% month over month in December, a dramatic increase from the 0.

Annual inflation in the United States climbed to 2.9% in December 2024, marking its third consecutive monthly increase and aligning with market expectations. This steady rise, up from 2.7% in November,