"Surging Shelter and Healthcare Costs Drive December Inflation Spike"
TL;DR Summary
The US consumer price index rose by 0.3% in December, driven by increased costs for shelter and healthcare, making a March rate cut by the Federal Reserve less likely. Weekly jobless claims fell by 1,000 to 202,000, indicating a tight labor market. The cost of shelter, including rents and hotel stays, accounted for more than half of the CPI increase. Gasoline prices rebounded, while food prices rose, with egg prices surging. Core CPI, excluding food and energy, rose by 0.3%, driven by higher rents. The labor market remains tight, with employers hoarding workers and layoffs remaining low.
- Rising shelter, healthcare costs boost US consumer inflation in December Reuters
- Inflation increases more than expected in December Yahoo Finance
- Consumer prices rose more than expected in December Yahoo Finance
- Consumer prices rose 0.3% in December, higher than expected, pushing the annual rate to 3.4% CNBC
- Inflation Accelerated in December, Jobless Claims Drop Bloomberg Television
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