Consumer Prices Likely Remained Elevated In December

WASHINGTON (AP) — Inflation likely remained elevated last month as the cost of electricity, groceries, and clothing may have jumped and continued to pressure consumers’ wallets. The Labor Department is expected to report that consumer prices rose 2.6% in December compared with a year earlier, according to economists’ estimates compiled by data provider FactSet. The figures are harder to predict this month, however, because the six-week government shutdown last fall suspended the collection of price data used to compile the inflation rate. Some economists expect the December figures will show a bigger jump in inflation as the data collection process gets back to normal.