US inflation ticks up in December and remains above Fed's 2% target rate
1. Inflation rose to 2.9% in December, surpassing November's 2.7%. 2. Core CPI climbed to 3.2%, reflecting persistent inflation pressures. 3. Biden's administration faces challenges in reducing rising living costs. 4. Consumer prices increased due to strong holiday demand in various sectors. 5. Inflation remains above the Fed's 2% target, complicating economic policy.