Inflation in America rises to 2.9%

The inflation rate in the United States rose last December, in line with expectations.

The consumer price index in the world’s largest economy rose by 2.9 percent on an annual basis last December, compared to 2.7 percent in November.

On a monthly basis, the US consumer price index rose by 0.4 percent, also in line with expectations, compared to 0.3 percent in November.

On the other hand, the core consumer price index, which excludes food and energy prices, fell to 3.2 percent in December, contrary to expectations that the rate would remain unchanged from last November at 3.3 percent.

On a monthly basis, the core consumer price index slowed last December to 0.2 percent, from 0.3 percent in November. (Sky News)