United States Inflation Rate

The annual inflation rate in the US remained at 2.7% in December 2025, the same as in November and in line with market expectations. Price pressures eased notably in the energy sector, with prices rising at a much slower pace (2.3% vs. 4.2%), driven by a decline in gasoline prices (-3.4% vs. +0.9%) and a moderation in fuel oil inflation (7.4% vs. 11.3%), while natural gas prices rose more sharply (10.8% vs. 9.1%). Prices also increased at a slower rate for used cars and trucks (1.6% vs. 3.6%). By contrast, price gains accelerated for food (3.1% vs. 2.6%) and shelter (3.2% vs. 3.0%). Meanwhile, the annual core inflation rate remained unchanged at 2.6%, the lowest level since 2021, below expectations for a rise to 2.7%. On a monthly basis, the CPI edged up 0.3%, in line with forecasts, with shelter costs rising 0.4% and accounting for the largest contribution to the overall increase. The core rate came in at 0.2%, below forecasts of 0.3%.