New data from the Bureau of Labor Statistics out Wednesday showed that a key inflation metric eased for the first time since July. On a "core" basis, which strips out the more volatile costs of food and gas,

US CPI rose 0.4% MoM and 2.9% YoY. The market reacted bullishly, with bond yields dropping and equity futures rising. See what Fed is expected to do.

The closely scrutinized monthly consumer-price index is due at 8:30 a.m. ET. Here are some key points to know ahead of the report: Economists expect annual inflation to come in at 2.9% as of December,

U.S. stock index futures extended gains on Wednesday as investors assessed a broadly in-line consumer inflation report to gauge its effect on the Federal Reserve's monetary policy easing this year. Data from the Labor Department showed the consumer price index rose 2.

Consumer Price Index showed an acceleration to 2.9%, the highest rate since July. With such high inflation, the Fed is unlikely to cut rates in January.

The Labor Department released the inflation report for December, which showed prices were up 2.9% from a year ago, in line with economists expectations and up from 2.7% in November.

CBS News business analyst, Jill Schlesinger talks about the December CPI data report released today A Philadelphia sports fan who went off on a misogynistic tirade against a female Green Bay Packers fan in a viral video won't be allowed to ever attend another Eagles home game.

Key Takeaways The Consumer Price Index rose 2.9% in December, accelerating from a 2.7% annual increase in November.Core inflation rose 3.2% over the year, down from 3.3% in November, providing optimism for the trajectory of the cost of living.

The Consumer Price Index ticked up by 0.4% in December, but a measure that excludes food and energy prices slowed for the first time in four months, the Labor Department said on Wednesday. Why it matters: Inflation resumed a cooling trend after a months-long interruption,