Less than a week before Donald Trump is sworn in for his second term in the White House, new data published by the Bureau of Labor Statistics on Wednesday reminded us that the fight against inflation is not over yet. The Consumer Price Index for All Urban Consumers (CPI-U) increased 2.9 percent over the last 12 months before seasonal adjustment, meaning that inflation has heated up for three consecutive months after hitting a three-and-a-half year low in September 2024. Meanwhile core inflation, which excludes volatile food and energy prices, came in at 3.2 percent in December, marking the first decline in the core inflation rate since July.

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