Inflation Rate Remains a Concern 

The Consumer Price Index increased 0.3% in December after a 0.1% increase in November, according to the U.S. Bureau of Labor Statistics. Over the last 12 months, the-all items index increased 3.4% before seasonal adjustment, which is higher than the 3.1% increase for the 12 months ending in November. Inflation continues to remain above the Federal Reserve’s 2% annual inflation target.  

The index for shelter continued to rise in December, contributing over half of the monthly all-items increase. The energy index rose by 0.4% due to increases in electricity and gasoline, which more than offset a decrease in natural gas. The food index increased by 0.2%. Click here for the press release.