Inflation jumps 0.3% in December, higher than expected

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.

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