New data from the Bureau of Labor Statistics out Wednesday showed that a key inflation metric eased for the first time since July. On a "core" basis, which strips out the more volatile costs of food and gas,

Financial writer analyzes December CPI report showing inflation above target, speculates on future trajectory and Federal Reserve policy path. Click for more.

The closely scrutinized monthly consumer-price index is due at 8:30 a.m. ET. Here are some key points to know ahead of the report: Economists expect annual inflation to come in at 2.9% as of December,

New inflation data out Wednesday showed headline consumer prices rose as forecast in December as core prices showed some easing with the Federal Reserve's path forward in focus. The latest data from the Bureau of Labor Statistics showed that the Consumer Price Index (CPI) increased 2.

Consumer Price Index showed an acceleration to 2.9%, the highest rate since July. With such high inflation, the Fed is unlikely to cut rates in January.

Annual inflation ticked up for a third straight month in December as food, energy costs rose, CPI report showed. But underlying price measure eased.

The Labor Department released the inflation report for December, which showed prices were up 2.9% from a year ago, in line with economists expectations and up from 2.7% in November.

The consumer price index increased a seasonally adjusted 0.4% on the month, putting the 12-month inflation rate at 2.9%. The annual number was in line with forecasts. Core CPI annual rate was 3.2%, a notch down from the month before and slightly better than the 3.

The Consumer Price Index 0.4% M/M in December, matching the consensus and slightly accelerating from the 0.3% increase in the previous month, according to U.S. Bureau of Labor Statistics data released on Wednesday.