Consumer prices in the United States rose more than expected in December, as investors looked for signs that the Federal Reserve will begin cutting interest rates through 2024.
The Consumer Price Index (CPI) for December showed a slight increase of 0.3% over November and An increase of 3.4% compared to the same month last yearA figure higher than the 3.1% observed in November.
Economists had expected inflation to rise 0.2% month-on-month and 3.2% year-on-year, according to Bloomberg data.
If the most volatile product categories of food and energy are removed, inflation is known as core or ‘CoreIn English, prices registered an annual rate of 3.9%, a slight decrease compared to 4.0% in November. Economists surveyed by Bloomberg had expected core inflation at 3.8%. In monthly terms, this inflation increased by 0.3% as on November.
Housing prices continue to rise unabated
In a price report released today by the United States Department of Employment, highlights The housing index, which rose 6.2% year-on-year, leading to a more than half increase in the headline CPI in December. On a monthly basis, the index rose 0.4%, unchanged from the change seen in November.
Rental prices also remained high. The rental index for homeowners and the rent equivalent index rose 0.5% month-on-month for the third consecutive month. Equivalent rent for landlords is the estimated rent a landlord would pay for a similar home.
Other products that rose strongly in December vehicle insurance, with an increase of 20.3% over the previous year and 1.6% over November.
Monthly used car prices, which have fallen in recent months, fell 1.3% year-over-year.
Food rose 2.7% In December compared to last year, with a price increase of 0.1% from November to December. The Food at Home index fell 0.1% after rising over the past few months.
Egg prices were up a strong 8.9% month-on-month after rising 2.2% in November.
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