The Consumer Price Index (CPI) in the United States showed an increase of 0.3% on a monthly basis and a higher-than-expected 3.4% on an annual basis in December, according to data released by the US Department of Labor.
According to the report, the cost of living for American consumers increased by 0.3% in December compared to the previous month, surpassing market expectations, which anticipated a 0.2% increase in the Consumer Price Index (CPI) during this period.
On an annual basis, the CPI in the country rose by 3.4% in December, exceeding the market expectation of 3.2%. It indicates a slight increase compared to the inflation figures of 0.1% on a monthly basis and 3.1% annually reported in November.
Housing prices continued to rise in December, with the housing index increasing by 0.5% on a monthly basis and 6.2% annually. Meanwhile, the energy index increased by 0.4% on a monthly basis but decreased by 2% annually.
During the same period, the food index showed a 0.2% monthly increase and a 2.7% annual increase.
The core CPI, which excludes volatile energy and food prices, showed a 0.3% monthly increase and a 3.9% annual increase in December. Core inflation aligns with market expectations on a monthly basis and slightly surpasses market expectations by 0.1 percentage points on an annual basis.
The inflation data for December is likely to serve as a crucial reference for analysts and investors assessing economic developments in the US and making predictions for future policy decisions.
source: aa.com.tr / prepared by Melisa Beğiç