The consumer price index (CPI) rose 2.9 percent year-over-year in December, the largest annual increase since July. When stripping out the more volatile food and energy sectors, core inflation slowed to 3.2 percent, from 3.3 percent.

The December inflation report shows that inflation rose by 0.4% month over month and 2.9% year over year. NBC News' Brian Cheung and Editor-in-Chief at Investopedia Caleb Silver break down the latest economic data.

Israel's inflation eased more than expected in December to end 2024 at a rate of 3.2% versus 3.0% in 2023, according to data on Wednesday from the Central Bureau of Statistics that could entice policymakers to start reducing interest rates soon.

Excluding the volatile food and energy categories, so-called core inflation declined to 3.2%, after remaining stuck at 3.3% for three months in a row.

U.S. producer prices rose less than expected in December as higher costs for goods were partially offset by stable services prices, suggesting inflation remained on a downward trend after progress had stalled in recent months.

US consumer inflation rose for a third straight month in December as energy prices jumped but a widely-watched measure eased slightly, raising hopes that underlying inflation may be moderating.

US consumer inflation rose for a third straight month in December as energy prices rose, according to government data published Wednesday, adding pressure on the Federal Reserve to pause rate cuts.