US Inflation Climbs to 2.9% in December

The United States witnessed a notable increase in its annual inflation rate, reaching 2.9% in December, as reported by the Department of Labor Statistics. This marks a rise from November's 2.7%, aligning with market expectations. The Consumer Price Index (CPI) experienced a monthly growth of 0.4%, slightly exceeding forecasts.

Breaking down the figures, the energy index saw a 2.6% increase on a monthly basis but recorded a 0.5% decrease compared to the previous year. Meanwhile, the food index rose by 0.3% month-on-month and 2.5% year-on-year.

Excluding the volatile food and energy sectors, the core CPI also showed an upward trend, with a 0.2% monthly increase and a 3.2% rise over the past 12 months.