Consumer prices rose 3.4% in December compared to a year ago, accelerating markedly from the previous month and defying a smooth path down to normal levels, a report from the Bureau of Labor Statistics released on Thursday showed.
Americans attitudes about inflation have improved.
Nike announced it is looking for as much as $2 billion in cost savings over the next three years.
Inflation in the U.S. cooled in June for the 12th month in a row.
Inflation has fallen significantly from a peak last summer but remains elevated.
American workers are getting paid more, and that could push inflation higher.
The data arrives less than a month after the Fed imposed its latest rate hike.
Meanwhile, the Consumer Price Index Report— a key marker for inflation— dropped this morning.
According to new Federal Reserve bank data, consumers are expecting to see inflation come down within the next year.
When Pat Clynes pushed down the gas pedal on his Ford Explorer during a drive in Houston, Texas, in July 2022, an otherwise routine day became the start of what he later described as a nightmare.
