Mixed CPI Data For December

2025-01-15 14:09:00 ET

Summary

• The overall Consumer Price Index increased by 0.4 percent for December, slightly above market expectations of 0.3 percent.
• A jump in energy prices was primarily responsible for the increase in the overall CPI, especially energy commodities (fuel oil and motor fuels).
• There was an outsized increase in transportation services, especially motor vehicle insurance (up by 0.4 percent for the month and 11.3 percent for all of 2024) and airline fares (up by 3.9 percent for the month and 7.9 percent for the year).

The overall Consumer Price Index (CPI) increased by 0.4 percent for December, slightly above market expectations of 0.3 percent. This pushed the 12-month trend rate up to 2.9 percent (from 2.7 percent in November), equal to market expectations. But the core CPI (excluding the volatile food and energy components) rose by only 0.2 percent for the month, less than market expectations of 0.3 percent. As a result of the smaller monthly gain, the 12-month trend rate slipped to 3.2 percent, below market expectations of 3.3 percent (which would be unchanged from November)....

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