Inflation Rose More Than Expected in Latest Data

Consumer costs increased at an elevated level again in December, according to newly released federal economic data, raising new concerns about spiking inflation. The U.S. Bureau of Labor Statistics on Thursday released the Consumer Price Index, a key marker of inflation, showing the cost of a range of every day goods and services for Americans rose more than expected. According to the federal data, the CPI rose 0.3% in December alone, a break from the recent months of very low inflation. Overall, prices rose 3.4% in the last 12 months.