Consumer prices in the United States rose more than expected in December, as investors look for signs that the Federal Reserve will start lowering interest rates in the new year 2024.
December’s Consumer Price Index (CPI) showed a marginal increase of 0.3% compared to November 3.4% increase compared to the same month last yearThis figure is higher than the 3.1% seen in November.
Economists expect inflation to rise 0.2% month-on-month and 3.2% year-on-year, according to Bloomberg data.
If the most volatile product categories of food and energy are removed, inflation is known as core or ‘core’ inflation.mainIn English, prices recorded a year-on-year rate of 3.9%, marking a slight decline compared with 4.0% in November. Economists surveyed by Bloomberg had expected core inflation of 3.8%. In monthly terms, this inflation rose by 0.3%, the same as in November.
Housing prices continue to rise
The prices report published today by the United States Department of Employment highlights Housing index, which increased by 6.2% year-on-year, which led to the general CPI increase by more than half in December. On a monthly basis, the index rose 0.4%, steady compared to the change seen in November.
Rental prices also remained high. The rent index for landlords and the rental equivalent index increased by 0.5% month-on-month for the third consecutive month. Rent equivalent for landlords is the hypothetical rent that a landlord would pay for the same house.
Other products with strong growth in December were vehicle insurance, With an increase of 20.3% compared to last year and 1.6% compared to November.
Monthly car prices have fallen by 1.3% on an annual basis, falling in recent months.
food increased 2.7% In December, the price increased by 0.1% from November to December compared to the previous year. The domestic food index declined by 0.1% after rising in the past few months.
Egg prices rose 8.9% month over month after rising 2.2% in November.
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(TagstoTranslate)Consumer Price Index(T)Auto Insurance(T)Underlying Inflation(T)Interest Rates(T)CPI Growth(T)United States