
U.S. consumer prices expanded at a faster pace in last December, indicating inflationary pressure is gradually building up.
Consumer Price Index (CBI), a main gauge of inflation, rose 0.3 percent in December on a seasonally adjusted basis, compared to 0.2 percent growth in the previous month, said the Labor Department on Wednesday.
On a year-on-year basis, the index increased 2.1 percent, up from November's 1.7 percent increase.
Food index remained unchanged for six consecutive months by December, while the energy index grew 1.5 percent in the month, higher than November' s 1.2 percent.
Excluding the volatile food and energy categories, the so-called core CPI went up 0.2 percent in December on a seasonally adjusted basis, and was up 2.2 percent over the year, slightly higher than the 2.1 percent growth in November.
Economists and market investors are expecting that the inflation in U.S. will pick up growth pace this year on the expectation that the new fiscal stimulus possibly rolled out by the new administration might push up inflation.
Lael Brainard, a member of the Board of Governors of the U.S. Federal Reserve, said on Tuesday that the central bank may accelerate interest rate hikes, if new fiscal policy mix introduced by the new Administration and Congress boosts inflation.
source: Xinhua
GMT 15:13 2018 Saturday ,20 January
US 'erred' in supporting WTO membership for China, RussiaGMT 17:22 2018 Thursday ,18 January
US industrial output in 2017 posts biggest gain since 2010GMT 17:12 2018 Thursday ,18 January
No more bonuses for Carillion bosses after UK collapseGMT 17:20 2018 Wednesday ,17 January
EU to remove Panama, South Korea from tax haven blacklistGMT 17:16 2018 Wednesday ,17 January
Citigroup reports steep Q4 losses tied to US tax reformGMT 17:11 2018 Wednesday ,17 January
Pressure rises on British govt over Carillion collapseGMT 17:52 2018 Monday ,15 January
Iran jetliner deal could take longer to complete, Airbus saysGMT 17:44 2018 Monday ,15 January
EU to remove Panama, Korea, UAE, 5 others from tax haven blacklist
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor