A customer shops for groceries in a supermarket in San Francisco. Photographer: David Paul Morris/Bloomberg
U.S. inflation accelerated at the end of 2023, fueled by stubborn services costs while a protracted decline in goods prices petered out.
The consumer price index (CPI) increased 3.4 percent in the year through December, the most in three months, according to government figures. It also rose by more than forecast on a monthly basis, as housing costs continued to climb, Americans paid more to drive, and energy prices advanced for the first time since September.
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