The post US Inflation Accelerates in December Reached to 3.4%! appeared first on Coinpedia Fintech News
The United States revealed that the annual rate of inflation, as measured by the Consumer Price Index (CPI), reached 3.4% in December. This figure surpassed analysts’ predictions of 3.20% and exceeded the previous month’s rate of 3.10%. The increase in inflation was largely attributed to rising prices for electricity and gasoline, which have been a persistent challenge for consumers in late 2023. This development could potentially challenge market expectations that the Federal Reserve will soon begin cutting interest rates as inflation continues to outpace projections.