US Inflation Hits 6.5% In December

Following November’s better-than-expected CPI print, it appears that circumstances continue to shift to the downside.

According to fresh figures released by the BLS, headline inflation in the US down-shifted from an annualized 7.1% in November to 6.5% in December, right in line with forecasts. Core inflation, which does not account for food and energy, rose another 0.3 percentage points to an annualized 5.7%— also in line with economists’ forecasts.

Most notably, some major contributors to last month’s CPI increase was the food index, which continued to increase 0.3% in December as three of the major six food categories noting price gains. Shelter costs also rose 0.8% last month, following an increase of 0.6% in November. On the other hand, though, the energy index declined by a substantial 4.5% over the month, largely due to nationwide declines in the price of gasoline. Used car prices also plummeted, falling 2.5% month-over-month and are down 8.8% from last year.

Information for this briefing was found via the BLS and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

The Goal is Gold Production as Soon as Possible! | Gordon Robb – ESGOLD Corp.

Snowline Gold: The Multi Billion Dollar Valley PEA

Euro Sun: Rovina Copper-Gold Project Secures Some Major Funding

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

CPI Rises 3.8% In September, Decelerating Slightly From August’s Increase

The Consumer Price Index (CPI) in September reported a 3.8% rise year-over-year, marking a deceleration...

Tuesday, October 17, 2023, 08:52:55 AM

Bank of England Hikes 75 Basis Points, Economy Expected to Fall Into Longest Recession on Record

The Bank of England delivered one of the largest rate hikes in 33 years on...

Thursday, November 3, 2022, 10:12:55 AM

US CPI Cools Slightly in October, Real Wages Continue to Tumble

US consumer prices remained elevated in October, albeit at a moderate pace after a drop...

Thursday, November 10, 2022, 09:29:43 AM

Consumer Prices Continue to Rise in Canada as Inflation Becomes Entrenched

Canadians continue to pay more for goods and services with each passing month, even as...

Wednesday, July 20, 2022, 10:05:11 AM

Bank of Russia: Out-of-Control Inflation Could Ignite New Global Financial Crisis

Russia’s central bank is warning that surging global inflation could spark a new financial collapse...

Wednesday, September 8, 2021, 03:37:00 PM