United States Inflation Rate Mom

The CPI in the US increased 0.4% month-over-month in December 2024, the most since March, compared to 0.3% in November and forecasts of 0.3%. The index for energy rose 2.6%, accounting for over 40% of the monthly increase, mainly due to gasoline (4.4%). Also, food prices went up 0.3% and shelter also edged up 0.3%. Other price increases were also seen in airline fares (3.9%), used cars and trucks (1.2%), new vehicles (0.5%), motor vehicle insurance, and medical care (0.1%). In contrast, the indexes for personal care (-0.2%), communication, and alcoholic beverages were among the few that decreased over the month.