The consumer price index rose 0.3% from November to December and 2.7% over the last year, the Bureau of Labor Statistics announced Tuesday. Excluding volatile food and fuel prices, the core measure of inflation rose 0.

President Donald Trump said December inflation data supports his calls for Federal Reserve Chair Jerome Powell to cut interest rates after CPI showed 2.7% annual price growth.

The report is the last of its kind before the Federal Reserve meets again in two weeks. With the employment report for December showing the unemployment rate sinking back to a relatively healthy 4.4 percent, officials are expected to hold interest rates steady after cutting them three times since September.

President Donald Trump on Tuesday seized on fresh inflation data showing price growth held steady in December, saying the numbers give the Federal Reserve room to cut interest rates. Consumer prices rose 2.

The last consumer price index report for 2025 has been released. Forecasters had expected that inflation would remain steady at 2.7%.

President Trump declared inflation “defeated” during a speech at the Detroit Economic Forum on Tuesday despite a report earlier that day showing annual price growth of 2.7 percent,  putting more

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Consumer price index rose 2.7% in year to December, in line with November, as president feuds with Fed over rate cuts