01/16/2025

Inflation Remains Stubbornly High for Many Americans

Here's how a new administration could impact it

Inflation has been an economic scourge for many Americans under President Biden — and it could remain a continued problem under Donald Trump.

Consumer prices rose 2.9 percent in December compared to a year ago, according to government data out on Wednesday. That's substantially lower than the four-decade high of 9.1 percent that the U.S. hit in mid-2022. But here's the worrying bit: It marks the third consecutive month in which annual inflation has slowly ticked higher — not lower.

It's a sign of both how much progress the Federal Reserve has made in beating down inflation, but also of how much policymakers are struggling to wrestle it down to the Fed's preferred target of 2 percent.

Please select this link to read the complete article from NPR.