The measure of sticky inflation by the Atlanta Federal Reserve experienced its ninth consecutive monthly decline in December. The sticky-price consumer price index (CPI) witnessed a year-over-year increase of 3.7% in December, following a 3.8% rise in the preceding month. This rate represents the lowest in three years.
The sticky-price CPI tracks the price changes in a weighted collection of items that tend to experience price adjustments at a slower pace, according to the Atlanta Fed. In a month-on-month comparison, the measure increased by 2.8% in December, following a 2.4% rise in November.
Earlier on Wednesday, official data revealed that U.S. consumer prices rose slightly more than anticipated in December, alongside an unexpected slowdown in core inflation. The consumer price inflation rate accelerated to 2.9% in December from 2.7% in November. Meanwhile, core inflation, which strips out volatile categories such as fresh food and energy, eased to 3.2% from 3.3% in November.
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