Inflation Edged Up in December After Rapid Cooling Most of 2023.

Inflation in the United States increased slightly in December 2023, after a year of significant cooling. The consumer-price index rose by 3.4% from the previous year, showing that inflation is still a concern. However, this is a significant improvement from the 6.5% rise in 2022. Wages also increased by 0.8% in 2023, marking the first real wage gains in three years. While there are hopes for a soft landing and further decline in inflation, some underlying price pressures, such as rising restaurant prices, persist. [Extracted from the article]