Saturday, January 16We Break the News

US Inflation Rate Above Forecasts

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Annual inflation rate in the US increased to 1.4% in December of 2020, from 1.2 percent in November and slightly higher than market forecasts of 1.3%. On a monthly basis, consumer prices increased 0.4%, higher than 0.2% in November and in line with expectations, mainly driven by an 8.4% increase in the gasoline index, which accounted for more than 60% of the overall rise. The other components of the energy index were mixed, resulting in an increase of 4.0 percent for the month. The food index rose in December, as both the food at home and the food away from home indexes increased 0.4%.

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