In December, inflation exceeded expectations, with the consumer-price index rising by 3.4 percent from the previous year and 0.3 percent from the prior month.
Housing and energy costs were major contributors to the increase. Additionally, food prices rose, with grocery prices up by 0.1 percent and dining out prices up by 0.3 percent.
Inflation is UP 17.6% SINCE BIDEN TOOK OFFICE.
🍽️Food price are UP
🔌Energy prices are UP
🏠Rent prices are UP
🔓The border is in CRISISThese problems are NATIONWIDE & you can't blame them on the Trump admin or the GOP.
All of this happened after Biden became our President. pic.twitter.com/u6qd50GhK7
— Congressman Byron Donalds (@RepDonaldsPress) January 14, 2024
Core prices, excluding food and energy, also rose by 0.3 percent.
The Federal Reserve may delay rate cuts due to the high inflation, despite market expectations.
There is also political scrutiny over the timing of rate cuts in an election year.
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