U.S. consumer prices 2.9% in December ↑...It's good, but Trump worries remain

[Anchor]
The U.S. consumer price index rose 2.9% last month from a year ago, but it was in good shape in line with expectations.

However, the U.S. Federal Reserve is unlikely to cut interest rates because it pointed out in its Beige Book, a survey of economic conditions that Trump's policies could adversely affect the economy.

I'm correspondent Lee Seung-yoon from New York.

[Reporter]
The U.S. CPI, Consumer Price Index, showed a 2.9% increase last month from a year ago.

It reached its highest level in five months, but it was evaluated as good in line with expert expectations.

Excluding volatile energy and food products, core CPI rose 3.2% from a year ago and 0.2% from the previous month, falling 0.1% below expectations.

In the meantime, large U.S. banks recorded better-than-expected profits, with JPMorgan Chase, the largest bank in the U.S., up 50% in the fourth quarter of last year from a year ago.

The New York Stock Exchange's three major indexes rose all at once on the back of consumer price stability and strong bank performance.

But the U.S. central bank, the Federal Reserve, said in a Beige Book report examining economic conditions that U.S. companies are concerned about the impact of Trump's policies on the economy.

[Brian Krawiz / Chairman of Sharp Investments: Tariffs will be a problem for investors. A trade group said mobile phone prices would go up by $300]

Manufacturers have been hoarding tariffs before they are imposed, as Trump has pledged, and have diagnosed that retaliatory tariffs are likely to cause inflation as high costs are passed on to consumers.

U.S. Federal Reserve Chairman Jerome Powell said there is a long way to go before returning inflation to its 2% target, which is expected to make it difficult to cut interest rates anytime soon.

I'm YTN's Lee Seungyoon from New York.

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