U.S. core inflation rate slows to 3.2% in December 2024 – less than expected and sets off market feeding frenzy

The U.S. Consumer Price Index rose by a seasonally adjusted 0.4% for the month, resulting in a 12-month inflation rate of 2.9%. This figure was consistent with forecasts.

Core CPI annual rate was 3.2%, down from the month before and slightly better than the 3.3% outlook.

Stock markets surged following the release as Treasury yields fell.

U.S. consumer price index

Year-on-year percent change – Jan. 2021 to Dec. 2024