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BREAKING NEWS: Inflation Ticks Up to 3.4 Percent

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Inflation rose again in December, according to the latest government figures out today, signifying that the fight to rein in high cost-of-living is not over.

The yearly rate of inflation increased to 3.4 percent before seasonal adjustment in December, according to the Consumer Price Index from the U.S. Bureau of Labor Statistics (BLS), up from the 3.1 percent unadjusted rate reported in November.

Core inflation—which accounts for all items minus food and energy—rose 3.9 percent over the last 12 months, after rising 4 percent over the 12 months ending in November.

Real average hourly earnings increased 0.8 percent, seasonally adjusted, from December 2022 to December 2023, the BLS reported separately today. The change in real average hourly earnings combined with a decrease of 0.3 percent in the average workweek resulted in a 0.5-percent increase in real average weekly earnings over this period.
 
 
 
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