Consumer prices increased by 0.4% in December, indicating that the Federal Reserve's efforts to combat inflation may be stalling despite previous progress since mid-2022.
The core inflation rate, which excludes food and energy prices, increased only 3.2% from last year, showing a slight positive change after three months of stagnation at 3.3%.
Economist Sarah House remarked that while some progress has occurred in reducing inflation, the overall improvement has been underwhelming, leading to widespread disappointment among analysts.
Despite recent inflation challenges, the strength of the labor market and unexpected job growth in December have eased fears of potential layoffs or negative economic impacts.
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