The Consumer Price Index rose 3.0 percent from a year earlier as food and energy prices picked up.

U.S. consumer prices climbed at a faster rate in December, capping off the inflation-plagued Biden administration’s final year and suggesting that the Federal Reserve’s efforts to bring down inflation may have run out of steam. The Consumer Price Index increased

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The Consumer Price Index rose 2.9 percent from a year earlier, but a measure of underlying inflation was more encouraging.