U.S. inflation picked up in December but underlying price pressures eased
- U.S. Consumer inflation rose for a third consecutive month in December, driven by higher energy prices, with the Consumer Price Index increasing 2.9 percent year-over-year, up from 2.7 percent in November.
- The Energy Index climbed 2.6 percent for the month, contributing to over 40 percent of the overall monthly increase according to the Labor Department.
- Core inflation came in at 3.2 percent annually, slightly below November's level, with a monthly rise of 0.2 percent, also falling short of estimates.
- The inflation data sparked optimism on Wall Street, with all three major indices rising more than 1.6 percent, as the Federal Reserve is expected to maintain its current policy stance.
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Total News Sources0
Leaning Left1Leaning Right3Center2Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 17%
C 33%
R 50%
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