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.

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,

A key measure of consumer prices rose less than expected in December, perhaps calming at least temporarily fresh worries about a recent rebound in inflation. An uptick in inflation since the end of su

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.

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,

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,

Take a look at how various financial markets are trading following the release of December's consumer-price index: stock futures, Treasury yields, the dollar, gold and Brent crude oil.

The Bureau of Labor Statistics is set to release the consumer price index report for December at 8:30 a.m. Eastern time on Wednesday. What the inflation data will mean for the Fed and interest rates.