Inflation & Prices
US Inflation Picks Up, Signaling Bumpy Path for Fed
- Consumer price index advanced 3.4%, most in three months
- Underlying inflation measures watched by Fed remained firm
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US inflation accelerated at the end of 2023, fueled by stubborn services costs while a protracted decline in goods prices petered out.
The consumer price index increased 3.4% in the year through December, the most in three months, according to government figures. It also rose by more than forecast on a monthly basis as housing costs continued to climb, Americans paid more to drive and energy prices advanced for the first time since September.