US core inflation lower than expected in December

Published:

US core inflation lower than expected in December
Photo: LM Otero AP/TT

Core inflation in the U.S., which excludes energy and food prices, was unchanged at 2.6 percent in December, according to the U.S. Department of Labor's Bureau of Labor Statistics.

On average, analysts expected a 2.7 percent increase, according to a Bloomberg survey.

Including food and energy, inflation in December was 2.7 percent, according to the BLS. That was unchanged from November and in line with expectations. Compared with the previous month, consumer prices rose 0.3 percent in December, according to the report.

The US Federal Reserve (Fed), whose next interest rate announcement is due in just over two weeks, has an inflation target of 2 percent.

The Trump administration has created turmoil and debate this week with a threat of prosecution for what are described as suspected crimes in connection with a renovation. Fed Chairman Jerome Powell has described the threat of prosecution as an attempt to force interest rate cuts and as a threat to the Fed's independence.

Loading related articles...

Tags

Author

TT News AgencyT
By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

More news

Loading related posts...