Inflation In December Worse Than Economists Expected
The annual inflation rate is on the rise again after moderating slightly in October in November, according to a new report from the Bureau of Labor Statistics. The Consumer Price Index for All Urban Consumers (CPI-U), a key metric used to measure inflation, increased 0.3 percent in December after rising 0.1 percent in November. At an annual rate, inflation rose to 3.4 percent, a significant increase from the 3.1 percent annual rate in November. The numbers were larger than economists expected, as noted by CNBC, with predictions of a 0.2 percent increase in December and a 3.2 percent annual rate.