Recently, progress on inflation appeared to be stuck or, at worst, reversing: A closely watched gauge of underlying price hikes — an index that excludes highly volatile categories — hadn’t budged for months.

The consumer price index, the cost shoppers pay for a wide range of goods and services, rose faster than expected in December but core items did not make the same jump, according to the latest report

Consumer price growth ticked up in December, a sign President-elect Donald Trump will inherit the inflation issues that dogged the Biden administration as he re-takes the White House next week.

While the overall consumer price index rose, the core measure that omits food and energy costs was below estimates.

Consumer inflation increased 2.9% in 2024, which is above the Federal Reserve's goal of 2%, but wages overall more than kept up with higher prices.

The increase in the consumer price index for the 25-county region that includes Long Island was fueled in part by the cost of natural gas, electricity and housing.

The Consumer Price Index increased 0.4% in December, compared to the previous month, the Bureau of Labor Statistics reported Wednesday. VIP access to exclusive Just the News newsmaker events hosted by John Solomon and his team.

The annual inflation rate for housing and household services was 6.0% in December 2024, up from 5.8% in November. This compares with a recent peak of 11.8% observed in January and February 2023. On a monthly basis, prices rose by 0.4% in December 2024, compared with a rise of 0.3% a year ago.

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The USDA projected that New York’s average egg price would stay high at $4.80 in the early part of the year, but gradually decrease to $2.35 per dozen by the end of 2025, up from an earlier forecast of $2.10 per dozen, CNBC reported.

The Social Security taxable wage base increased from $168,600 in 2024 to $176,100 in 2025. This is the amount of your annual income subject to Social Security payroll taxes if you're working. The tax rate is currently 12.4%, but if you're traditionally employed, you only pay half of that while your employer covers the other half.