Inflation Ticks Up in December, Exceeding Forecasts on Housing and Energy Costs
• Inflation rose 0.3% in December, higher than expected, driven by jumps in energy and housing costs
• Prices increased 3.4% over the past year, exceeding forecasts and the 3.1% gain in November
• Core inflation, excluding food and energy, also came in slightly higher than expected at 0.3% monthly and 3.9% annually
• Housing was the biggest contributor, with rent costs rising 0.4% in December and 6.2% over the past year
• The report indicates inflation is declining but remains above the Fed's 2% target, presenting challenges for policymakers