Also Thursday, the Bureau of Economic Analysis said that GDP increased by 4.4%, a slight upward revision from the previous estimate of 4.3%. The addition came from increases in exports and investment that were somewhat offset by a downward revision to consumer spending.

A delayed reading on the Federal Reserve’s preferred inflation gauge released Thursday keeps the central bank on course to hold interest rates steady next week.

After being unable to provide inflation data for October, the BLS was able to resume data collection following the government shutdown and provide reports for November and December — both of which showed headline inflation at a more benign 2.7 per cent versus 3 per cent in September.

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The year-over-year inflation rate in January, the month President Donald Trump returned to the White House, was 3.0%. The year-over-year inflation rate in September, the most recent month for which Consumer Price Index figures have been released, was ...

Not adjusted for inflation, consumer spending jumped by 0.5% in November from October and by 5.4% from a year ago. Incomes outgrew inflation as well. Read more

Inflation in metro Phoenix fell below the national rate in December as housing costs cooled, but groceries, energy and health care stayed high.

At the divisional level, the three major contributors to the headline inflation were Food and non-alcoholic Beverages: 6.06