The Labor Department released the inflation report for December, which showed prices were up 2.9% from a year ago, in line with economists expectations and up from 2.7% in November.

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

The closely scrutinized monthly consumer-price index is due at 8:30 a.m. ET. Here are some key points to know ahead of the report: Economists expect annual inflation to come in at 2.9% as of December,

Analysis of CPI inflation data shows mixed results for December 2024, impacting Fed rate decisions and stock market performance in 2025. Read our full outlook on Seeking Alpha.

Disinflation in key areas of consumer prices should help the Federal Reserve stick to its policy path of gradual cuts to interest rates.