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.

<i>This is a developing story. Please check back for updates.</i>

The Labor Department released the closely watched December consumer price index report Thursday, revealing just how hot inflation was running last month.{ai:summary}<p>Consumer prices in the US rose more than expected in December, with a 0.3% increase from the previous month, and a 3.4% climb from last year. #economy</p>

Inflation jumps 0.3% in December, higher than expected

Loading...