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US consumer inflation jumps more than expected to 3.4 per cent
Consumer inflation in the United States rose more than anticipated in December, up 3.4% from a year ago. However, underlying pressures appear to be ebbing as the "core" metric, which excludes volatile food and energy prices, cooled to 3.9%. Despite the uptick, inflation has come down significantly from the June 2022 peak of 9.1%. Policymakers are seeking to ease demand and sustainably lower inflation by maintaining high interest rates. The aim is to ease demand by making it more appealing to save rather than spend.
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