Consumer Prices Rose 0.4% in December 2024
By Tom Burnett CFA
On January 15, 2025, the Bureau of Labor Statistics issued its Consumer Price Index report for December 2024. The Index increased by 0.4% in December, after rising 0.3% in November. The increase was the largest monthly figure since March 2024. Over the past year, the CPI rose by 2.9%, up from a yearly low of 2.4% in September.
The Core Rate, excluding food and energy, rose 0.2% in December, after having increased 0.3% in each of the previous four months. Over the previous 12 months, the Core Index rose 3.2%, equaling the lowest 12-month rate first reached in July 2024.
Over the past year, the Energy Price Index fell 0.5%, while the Food Index rose 2.5% during that period.
The next CPI Report will be issued on February 12, 2025.
Tom Burnett CFA is Director of Research.