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January 15, 2025US CONSUMER PRICE INDEX, DECEMBER AND ANNUAL 2024 
The United States Consumer Price Index (not seasonally adjusted) for All Urban Consumers increased 2.9% year-over-year in December 2024, this was up from a year-over-year pace of 2.7% in November.
Compared to December 2023, the US energy price index declined 0.5%. Gasoline price index was down 3.4%. The food index rose 2.5% and the shelter index was up 4.6% year-over-year.
The US CPI excluding food and energy rose 3.2% compared to December 2023.
ANNUAL 2024
In 2024, average annual US consumer price index rose 2.9%, down from 4.1% price growth in 2023. US inflation has been faster than inflation in Canada or Nova Scotia since 2020, with differences in price growths narrowing in 2023.
Note: Canada and Nova Scotia December and Annual 2024 CPI figures will be released on January 21, 2025.
Sources: Statistics Canada. Table 18-10-0004-01 Consumer Price Index, monthly, not seasonally adjusted; U.S. Bureau of Labour Statistics retrieved from the Federal Reserve Bank of St. Louis
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