From the story here:
... “The bottom line is, I think inflation is still uncomfortably high,” said Mark Zandi, chief economist at Moody’s. “Inflation for staples, necessities, remains elevated.” ...
Tariffs levied by President Donald Trump have put upward pressure on the inflation rate, Zandi said. ...
“I think were it not for the tariffs, we would have been back to target already,” Zandi said. “But tariffs have pushed up inflation a little over half a [percentage] point.” ...
Overall, the headline inflation rate is higher than it appears on paper, Zandi said. The record-long government shutdown, which ran from Oct. 1 to Nov. 12, prevented federal statisticians from collecting typical inflation data in October. Without that data, the BLS assumed that no price increases had taken place during the month for most categories of goods and services, Zandi said. Moody’s estimates the annual CPI inflation rate would be around 3% if that data were included, he said. ...
Overall CPI inflation, not seasonally adjusted, came in at 2.7% year over year in December 2025, while core CPI inflation was lower at 2.6% in today's report:
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| overall |
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| core |
