Inflation Continues its Climb: December 2024 CPI Data Released
Inflation Continues its Climb: December CPI Data Released The latest Consumer Price Index (CPI) data released by the Bureau of Labor Statistics (BLS) shows a continued increase in inflation. The December 2024 CPI-U, which measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services, came in at 317.685, up from 316.441 in November. Month-over-Month Analysis: Slight Increase: The CPI-U saw a modest 0.39% increase from November to December, indicating a persistent, albeit slightly moderated, pace of inflation. Year-over-Year Analysis: Continued Growth: Compared to December 2023 (308.742), the December 2024 figure represents a significant 2.9% increase. This demonstrates a sustained period of elevated inflation. Implications: The continued rise in inflation has several potential implications: Fed Policy: The Federal Reserve may continue its policy of raising interest ...