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September 01, 2020 1:28pm
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Inflation jumps 0.3% in December, higher than expected

The Labor Department released the closely watched December consumer price index report Thursday, revealing just how hot inflation was running last month.

The Labor Department said Thursday that the consumer price index, a broad measure of the price of everyday goods including gasoline, groceries and rent, rose 0.3% in December from the previous month, more than expected.

Prices climbed 3.4% from the same time last year, which is higher than both the estimate by Refinitiv economists and the 3.1% gain recorded in November.

This is a developing story. Please check back for updates.

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