US Inflation Rises for 3rd Straight Month, Driven by Higher Energy, Shelter Costs

The drop in core inflation relieves investors.
US Inflation Rises for 3rd Straight Month, Driven by Higher Energy, Shelter Costs
People shop at a grocery store in New York City on Aug. 14, 2024. Spencer Platt/Getty Images
Andrew Moran
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The U.S. annual inflation rate increased for the third straight month in December 2024, finishing the year slightly below 3 percent as energy and shelter drove much of the month’s jump.

According to the Bureau of Labor Statistics, the annual inflation rate rose to 2.9 percent last month from 2.7 percent in November 2024.
Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."