US consumer price growth is expected to have risen at the fastest pace in nearly four decades in December, as the Federal Reserve worries about the threat of elevated inflation and its consequences for the economic recovery.
The consumer price index (CPI) is estimated to have increased at a 7 per cent annual clip last month, a step up from the 6.8 per cent rate registered in November, according to a consensus forecast compiled by Bloomberg.
However, month-over-month price gains are expected to have moderated to 0.4 per cent between November and December, down from 0.8 per cent in the previous period. The data will be released at 8:30am Eastern time on Wednesday.
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