December’s Consumer Price Index marks biggest gain in three months

The latest inflation print, the Consumer Price Index, ticked up higher than analysts were expecting.

It jumped 0.3 percent on the month to 3.4 percent, which is higher than the 3.2 percent expected, and up from 3.1 percent the previous month. The big price pressures were energy, housing, and food.

These numbers will prove difficult for the Fed and their interest rate campaign as they try to reach the 2 percent inflation target.