Inflation Rose in December but Underlying Pressures Fell
CPI Up 2.9% Over Year Ago but Core Inflation Declined to 3.2% After Remaining at 3.3% for Three Months
Egg prices jumped 3.2% in December and are up 36.8% from a year ago. An outbreak of avian flu is decimating many chicken flocks, reducing egg supply. (ljubaphoto/Getty Images)
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WASHINGTON — U.S. inflation accelerated last month as prices for gas, eggs and used cars rose, yet underlying price pressures also showed signs of easing, bolstering hopes that the Federal Reserve could still cut its key interest rate this year.
The consumer price index rose 2.9% in December from a year ago…
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