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,

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,

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,

Progress on inflation should stall this year” as fiscal, immigration and trade policies shift, caution Bank of America economists.

U.S. Consumer Price Index report, due out on Wednesday, is expected to reveal a nudge upward in the headline inflation rate, while the core remained steadfast. With recent remarks from Federal Reserve officials signaling a more cautious and gradual approach to interest-rate cuts on the back of resilient economic data,