NEW YORK, 12th January, 2024 (WAM) -- Inflation ticked higher in the United States last month as the Federal Reserve weighs the latest stage of its battle against price growth.
The headline consumer price index increased at an annual pace of 3.4% in December, according to the Bureau of Labour Statistics, up from 3.1% in the previous month, and exceeding economists’ expectations of about 3.2%.
On a month-to-month basis, the index climbed 0.3%, from 0.1% in November. Housing costs drove the index higher, and were responsible for more than half the headline increase.