U.S. CPI rises 2.9% year-over-year in December, meeting expectations

The U.S. Consumer Price Index (CPI) rose by 2.9% year-over-year in December, aligning with expectations of 2.9%, according to data from the U.S. Bureau of Labor Statistics shared by Investing.com. On a monthly basis, the CPI increased by 0.4%, meeting market forecasts of 0.4%. The core CPI, which excludes the volatile food and energy sectors, climbed 3.2% year-over-year, slightly underperforming the anticipated 3.3%, and saw a monthly rise of 0.2%, falling below the expected 0.3%.