Inflation ticks up to 2.9%, but underlying price gains are muted

(Image: Getty)

Fri, 17 Jan 2025

By Paul KiermanMarkets cheered a December inflation report that suggested underlying price pressures are easing, but the Federal Reserve still isn’t likely to cut interest rates anytime soon, given President-elect Donald Trump’s plans for the economy. The overall consumer-price index came in relatively hot, rising 2.9% over the year, the Labor Department said Wednesday. The index rose 0.4% from the previous month, driven by a 4.4% jump in gas prices.The so-called core CPI, which excludes volatile food and energy prices, rose 0....

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