Inflation likely rose in December, indicating that progress against price increases has stalled, forecasters said.
by Diccon Hyatt
Investopedia
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Everyone’s least favorite economic phenomenon likely continued its comeback in December if forecasters are correct.
A report Wednesday from the Bureau of Labor Statistics is likely to show the Consumer Price Index, a measure of the cost of living, rose 2.9% over the 12 months ending in December, according to a survey of economists by Dow Jones Newswires and The Wall Street Journal. This would be the third month in a row the key inflation gauge has risen, bringing it to its highest since July.
Economists tracking consumer prices said rising costs for food and energy likely pushed the CPI higher. That could be a sign that progress against inflation earlier last year—thanks to the Covid-related supply chain snarls unraveling—remains stalled.