NASHVILLE, TENN. (RFD NEWS) — The Consumer Price Index (CPI) for December was released early Tuesday morning by the U.S. Bureau of Labor and Statistics, and the markets are responding kindly.
The numbers show consumer inflation rose 0.3 percent last month. However, that is 0.10 percent lower than expected. Year over year, consumer inflation is up 2.7 percent. Shelter was the largest increase in December, while the food index rose by 0.7 percent.
On Wednesday, the Bureau will release a companion report, the Producer Price Index (PPI), which provides a read on farmer spending. Join us on Market Day Report for expert analysis on that data and what it means for the ag industry as we head into the new year.
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On a year-over-year basis, final demand prices are up 6.5 percent, the largest annual increase since late 2022.
