Inflation rose again in December and stood at 3.4%

The Consumer Price Index (CPI) stood at 3.4% last December, according to data published by the Bureau of Labor Statistics (BLS). The figure marked the last rebound of the year 2023, since it represented an increase of 0.3% compared to November (when it stood at 3.1%).

In addition, the data was above forecasts which predicted an increase to 3.2%.

Cpi december by Veronica Silveri on Scribd

Core inflation - an index of all items except food and energy - stood at 3.9% last month. But like the general CPI rate, the data presented exceeds market forecasts (3.8%).

Food and housing on the rise

According to the report: "Indices that increased in December include housing, motor vehicle insurance and health insurance." On the other hand, "the home furnishings and operations index and the personal care index were among those that decreased throughout the month."

The housing index continued to increase in December (+0.5%). Energy rose 0.4% in December. The food index increased 0.2% in December. The eating at home index rate increased 0.1% and the eating away from home index increased 0.3% for the month.

For 2023, the report highlights "notable increases" in year-on-year terms for the categories of: motor vehicle insurance (+20.3%), food outside the home (5.2%), personal care (+5% ), electricity (3.3%), recreation (+2.7%), education (+2.4%), food at home (1.3%).