US inflation ticks up in December and remains above Fed’s 2% target rate

Consumer price index rose at annual rate of 2.9% and while Trump promised to cut prices he now says it will be hard

Inflation ticked up across the US last month, according to the last report on consumer prices under the Biden administration.

Donald Trump has promised to bring prices down for millions of Americans. But while price rises have slowed sharply since their post-pandemic peak of 9.1%, the pace of inflation remains higher than the Federal Reserve’s target rate of 2% per annum.

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