The Consumer Price Index increased 0.4% in December, compared to the previous month, the Bureau of Labor Statistics reported Wednesday. VIP access to exclusive Just the News newsmaker events hosted by John Solomon and his team.

Recent data from the Bureau of Labor Statistics shows the cost of living continues to outpace earnings, leaving many Americans struggling to make ends meet.

Inflation ended 2024 by moving slightly higher. The U.S. Bureau of Labor Statistics reports a 0.4% increase in the Consumer Price Index for All Urban Consu

This contradicts months of claims from Jerome Powell who has insisted that price inflation was rapidly returning to the Fed's two-percent price inflation goal.

The rise in gas prices contributed to the overall 2.6% climb in the energy index, which accounted for over 40% of the overall monthly rise. The CPI rose 0.4% in December 2023, marking a 2.9% increase over the last 12 months. While gas prices spiked, food prices also increased by 0.3%.

While the overall consumer price index rose, the core measure that omits food and energy costs was below estimates.

The increase in the consumer price index for the 25-county region that includes Long Island was fueled in part by the cost of natural gas, electricity and housing.

U.S. consumer prices increased by the most in nine months in December amid higher costs for energy goods, pointing to still-elevated inflation that aligns with the Federal Reserve's projections for fewer interest rate cuts this year.

On Wednesday, the price of bitcoin continued rising, surging to over $99,000 as it looked poised to return to the $100,000 mark, driven by new inflation data. Minutes after the U.S. Bureau of Labor Statistics unveiled new data from the Consumer Price Index, bitcoin’s price jumped by $1,500, representing a 2% price improvement for the day.

Yes, there is an egg shortage due to bird flu. Officials at the U.S. Department of Agriculture (USDA) have confirmed there is an egg shortage and linked it to highly pathogenic avian influenza (HPAI), which has spread between chicken flocks across the country since first appearing in the U.S. in February 2022.

There are growing concerns about the stickiness of inflation and fears that the Federal Reserve may have to keep interest rates restrictively high for longer.

This contradicts months of claims from Jerome Powell who has insisted that price inflation was rapidly returning to the Fed's two-percent price inflation goal.