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While the numbers beat expectations, they also painted a grim picture of the sticker shock that consumers face at the grocery store and when they open their electricity bills.
The president’s approval rating on the economy has been underwater for months. | Evan Vucci/AP
Inflation rose at a slower pace than expected in December, providing a boost to President Donald Trump as the White House faces mounting pressure over his plans to address cost-of-living issues.
The Labor Department on Tuesday said prices climbed at an annual rate of 2.7 percent last month, matching the muted figure reported for November. So-called core inflation — which strips out volatile food and energy prices — increased by just 2.6 percent, a sign that price pressures are easing as businesses absorb the effects of the president’s trade and tax policies.
