Consumer price index rises

Source: Dukascopy Bank SA
The Consumer Price Index (CPI) for All Urban Consumers rose 0.4% in December, following a 0.3% increase in November. Over the past year, the CPI increased by 2.9%. Energy prices rose 2.6% in December, with gasoline up 4.4%. Food prices also increased by 0.3%, both at home and away from home.



Excluding food and energy, the CPI rose 0.2% in December. Notable increases were seen in shelter, airline fares, used and new cars, motor vehicle insurance, and medical care, while personal care, communication, and alcoholic beverages decreased. Over the past year, the CPI excluding food and energy increased 3.2%, while the energy index decreased by 0.5% and food prices rose by 2.5%.

The December CPI report shows inflationary pressures continuing, with a 2.9% increase in the overall index year-over-year. The rise in energy and food prices could signal persistent cost pressures, which may prompt the Federal Reserve to maintain or adjust interest rates. This could lead to a stronger US dollar if the Fed tightens policy to combat inflation.
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