Consumer prices rose 0.3% in December, higher than expected, pushing the annual rate to 3.4%
The consumer price index increased 0.3% in December and 3.4% from a year ago, compared with respective estimates of 0.2% and 3.2%
Excluding volatile food and energy prices, the so-called core CPI also rose 0.3% for the month and 3.9% from a year ago, compared with respective estimates of 0.3% and 3.8%.
Much of the increase came due to rising shelter costs. The category rose 0.5% for the month and accounted for more than half the core CPI increase.
Wages adjusted for inflation posted a 0.2% gain on the month, while rising a modest 0.8% from a year ago. $S&P 500 Index(.SPX.US$ $Dow Jones Industrial Average(.DJI.US$ $Nasdaq Composite Index(.IXIC.US$ $SPDR S&P 500 ETF(SPY.US$ $Invesco QQQ Trust(QQQ.US$
Wages adjusted for inflation posted a 0.2% gain on the month, while rising a modest 0.8% from a year ago. $S&P 500 Index(.SPX.US$ $Dow Jones Industrial Average(.DJI.US$ $Nasdaq Composite Index(.IXIC.US$ $SPDR S&P 500 ETF(SPY.US$ $Invesco QQQ Trust(QQQ.US$
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