Inflation ticked up across the US last month, according to the last report on consumer prices under the Biden administration.
Donald Trump has promised to bring prices down for millions of Americans. But while price rises have slowed sharply since their post-pandemic peak of 9.1%, the pace of inflation remains higher than the Federal Reserve’s target rate of 2% per annum.
The consumer price index (CPI) rose at an annual rate of 2.9% in December, up from 2.7% the previous month, and in line with expectations, according to official data. On a month-to-month basis, the index rose 0.4%.
