The consumer price index (CPI) rose 2.9 percent year-over-year in December, the largest annual increase since July. When stripping out the more volatile food and energy sectors, core inflation slowed to 3.2 percent, from 3.3 percent.

The Federal Reserve has now battled high inflation for nearly four years. Economists point to the Federal Reserve's rate cuts, rising oil prices, consumer psychology, and potential tariffs as factors holding back inflation's progress.

Entering 2025, models from forecasting companies like Trading Economics anticipate inflation rates between 2.4% and 2.9% between the end of 2024 and the start of 2026. Unfortunately, actually predicting inflation can be difficult, as rates can be affected by a variety of factors, including political climates and supply-chain interruptions.

President Biden discussed the economy in the last interview of his administration on MSNBC’s “The Last Word with Lawrence O’Donnell" Thursday night.

The latest inflation report slashed the risk that the Fed could go back to hiking interest rates this year, Wall Street strategists say.

Gas prices rose sharply, but investors homed in on a small decline in the core CPI.

A relatively benign U.S. reading on consumer price increases triggered a sharp relief rally in stocks and bonds on Wednesday, but traders and investors warn that markets are likely to remain anxious about the pace of inflation.

The Labor Department released the inflation report for December, which showed prices were up 2.9% from a year ago, in line with economists expectations and up from 2.7% in November.

President Joe Biden's farewell address included a stark warning about the danger of what he called abuses by the ultra-wealthy, particularly what he called the "tech-industrial complex." "Today, an oligarchy is taking shape in America of extreme wealth,

Trump will face at least three economic challenges during 2025: a possible resurgence of inflation, surprisingly high interest rates, and a gigantic national debt that’s finally starting to vex markets.

Joe Biden's time in the White House is coming to an end. These charts help tell at least part of the story of what's happened during his four years in office. CNBC reports that Perplexity AI has officially submitted a bid proposing a merger with TikTok US.