Pace of inflation held steady
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Prices rose 2.7% in December from a year ago, a sign that inflation continues rising but in line with the pace seen in recent months.
CNN was grilled on X Tuesday after users called out a perceived disparity in how the outlet framed inflation under President Donald Trump versus former President Joe Biden.
President Donald Trump said December inflation data supports his calls for Federal Reserve Chair Jerome Powell to cut interest rates after CPI showed 2.7% annual price growth.
The latest CPI report shows the cost of living rose in December. This is where many households are really feeling the pinch.
While the U.S. CPI inflation report on Tuesday showed a slightly softer-than-expected annual increase in core prices, there's little reason for consumers or policymakers to cheer.
While inflation in the Houston area rose at a slower pace than the national average last year, many Houstonians are still feeling squeezed.
Inflation is rising to a greater degree in the Bay Area than nationwide. The nation’s consumer price index rose at a yearly pace of 2.7% in December, the Bureau of Labor Statistics reported.
Price hikes picked up speed for US-based businesses toward the end of last year, a potential signal that inflation has yet to peak and prices could soon rise faster for consumers.