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CPI Report Reveals 2 Worrying Truths About 2024 Inflation

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Inflation Stays Stuck at 4-Year Low, But American Grocery Bills Tell a Different Story

The final CPI report of 2023 delivered a mixed bag for American wallets, showing inflation holding at its lowest level in four years but hiding persistent pressures on everyday essentials.

cpi report
cpi report

According to data released Tuesday by the Bureau of Labor Statistics, the Consumer Price Index (CPI) rose 2.7% over the 12 months ending in December. The core CPI reading, which excludes volatile food and energy costs, came in at 2.6%. On a monthly basis, prices climbed 0.3%.

cpi report
cpi report

While the White House has been ramping up its affordability push amid voter frustration, the report reveals that consumers are still grappling with high price levels, particularly in the supermarket aisle.

A Closer Look at the Numbers

Beneath the headline year-over-year figure, which held steady from November, lie details that hit closer to home. In December, grocery prices jumped 0.7%—the largest monthly increase since August 2022. This surge in food costs is a stark reminder that the relief felt at the gas pump isn’t always mirrored at the checkout counter.

cpi report
cpi report

However, there were some pockets of relief. Used car prices fell by more than 1%, and new car prices remained flat for the month, suggesting automakers have so far absorbed tariff-related costs. Nationwide, electricity prices also dipped slightly, though they remain nearly 7% higher than a year ago.

Data Gaps and Fed Uncertainty Cast a Shadow

This report comes with significant caveats. Due to the October government shutdown, the BLS did not release data for that month, creating a gap in the timeline. Some economists, including Federal Reserve officials, believe this disruption may have led to an understatement of true inflation pressure, as the agency had to estimate certain costs like shelter for October.

cpi report
cpi report

The data lands as the Federal Reserve remains divided on the path of interest rates. Although the Fed paused its rate-hike campaign after three cuts last year, some officials continue to express concern. Inflation, though down from its peak, has stubbornly remained above the Fed’s 2% target since 2021.

The Political and Personal Impact

With consumer sentiment at historic lows, the political stakes are high. The Biden administration’s affordability agenda is squarely focused on this pain. In a recent move, President Biden stated he was in talks with major tech firms to prevent Americans from “picking up the tab” for the massive data centers driving the AI boom, which threaten to spike power costs.

cpi report
cpi report

For the average American family, however, the economic picture is defined by the tangible cost of living. The drop in overall inflation offers little consolation when the weekly grocery bill continues to climb and utility costs remain elevated.

What to Watch Next

All eyes will now be on the Fed’s next meeting. Will steady inflation data give them confidence to consider rate cuts later in 2024, or will the stickiness of core categories and data uncertainties prompt a more cautious stance? Furthermore, the ongoing impact of geopolitical events and supply chains could reintroduce volatility.

For now, the December CPI report confirms that the battle against inflation is entering a new, more nuanced phase—one where the national average tells less of the story than the individual receipts piling up on kitchen counters across the country.

Editor’s note: This story has been updated with additional details and context.

News

NBC Sports Revolution: 15 MLB Games Today

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The Ultimate Baseball Marathon

The day’s schedule is packed with wall-to-wall coverage, ensuring you don’t miss a single pitch from your favorite franchise. The action began at noon ET on NBC with an NL East showdown between the New York Mets and the Atlanta Braves. Later tonight, the primetime slot on NBC at 7:00 p.m. ET features a blockbuster matchup: the Los Angeles Dodgers hosting the San Diego Padres.

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nbc

Between those marquee games, Peacock is hosting a marathon of 13 additional games. For those who want to track multiple storylines at once, Peacock is offering an “MLB Multiview” feature, allowing viewers to stream up to four games simultaneously on their devices—a perfect tool for fantasy players and die-hard enthusiasts alike.

nbc
nbc

Why This Matters for Sports Fans

This isn’t just about watching games; it’s about the evolution of how we consume sports. In an era where fragmentation often makes it difficult to find a game on cable, having the entire league under one “roof” is a refreshing change. Whether you are rooting for a pennant race contender or just want to catch a glimpse of the league’s top prospects, today provides an unparalleled window into the world of Major League Baseball.

nbc
nbc

As you enjoy the games, consider the effort behind the scenes. Rob Hyland, NBC Sports SVP of Production, noted that this event required months of collaboration between local production teams and MLB. It’s a bold experiment in “competitive” broadcasting, ensuring that the 250th birthday weekend of the nation is marked by the sport that defines its summers.

How to Watch

To catch all the action, ensure you have your Peacock subscription ready. While the two featured games are available over the air on NBC, the vast majority of the day’s content lives on the Peacock streaming platform. So, grab your snacks, kick back, and enjoy the biggest baseball broadcast event in television history.

nbc
nbc

In a monumental shift for American sports broadcasting, baseball fans are witnessing a historic day. For the first time, a single media network is bringing the entire Major League Baseball slate to your living room. Today, all 30 MLB teams are in action, with every single game airing across NBC and Peacock.

This event, dubbed “Star-Spangled Sunday,” marks a massive technical and logistical undertaking, mirroring the scale usually reserved for the Olympic Games. It is a dream scenario for fans who want to immerse themselves in the national pastime for the entire day.

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News

Trump Mount Rushmore Dream: 1 Hard Truth Revealed

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The “Dream” Meets Structural Reality

As President Donald Trump (Trump Mount Rushmore) makes his way to South Dakota this Friday, the nation’s eyes are once again fixed on the iconic granite peaks of Mount Rushmore. Amidst the pomp and circumstance of the country’s 250th anniversary, the perennial question has resurfaced: Is it time for a fifth face to join the monument? While the idea remains a favorite talking point for his staunchest allies, the reality is far more solid—and less yielding—than political rhetoric suggests.

Trump mount rushmore
Trump mount rushmore

For years, President Trump has toyed with the concept of his likeness being carved into the Black Hills. From joking comments at rallies to sharing digital mock-ups on his social media platforms, the president has made no secret that he finds the idea appealing. In a private meeting during his first term, he famously told then-Governor Kristi Noem that it was his “dream” to be featured alongside Washington, Jefferson, Roosevelt, and Lincoln.

Trump mount rushmore
Trump mount rushmore

However, the “mountain” he needs to move is not political; it is literal. According to engineers and the National Park Service, there is simply no remaining surface area to accommodate another sculpture. Sculptor Gutzon Borglum, who oversaw the original project, noted as early as 1936 that the composition was “fixed” and that the stone lacked the structural integrity to support further expansion.

Trump mount rushmore
Trump mount rushmore

Stalled Legislation and Political Friction

Despite these warnings, the push to memorialize the 45th and 47th President continues in Washington. In early 2025, Rep. Anna Paulina Luna introduced legislation to mandate the carving, arguing it would “reflect his towering legacy.” The bill remains firmly stalled, lacking the bipartisan support necessary to clear the Senate.

While some members of his administration, including Interior Secretary Doug Burgum, have publicly suggested there is “certainly” room for his face, these statements clash with the long-standing assessment of park officials. Critics argue that the focus on such projects is a distraction from more pressing national issues, while supporters see it as a fitting tribute to a leader who has sought to reshape American architectural and cultural identity.

A Different Climate in 2026

President Trump’s return to the memorial comes six years after his contentious 2020 visit. That event, held during the height of the global pandemic and national unrest following the death of George Floyd, was marked by a defiant speech against “cancel culture.”

Trump mount rushmore
Trump mount rushmore

This year’s visit is focused on the Freedom 250 celebrations. Unlike the 2020 event, which took place during a moment of profound national crisis, this visit is aimed at celebrating the nation’s 250th birthday. Thousands of attendees are expected, though security remains tight and a designated area has been set aside for protesters near the town of Keystone, reflecting the ongoing political divide that persists even during historic milestones.

Whether or not the President ever finds his place on that granite cliffside, his imprint on the American political landscape is undeniable. For now, the mountain stands as it has for nearly a century: a testament to a bygone era of American expansionism, largely unchanged by the shifting tides of modern politics.

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Business

Alan Greenspan: Iconic Fed Leader Dies at 100

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A Legacy of Power and Turbulence

Alan Greenspan, the legendary economist who served as the chairman of the Federal Reserve for nearly two decades, has passed away at the age of 100. His death was confirmed on Monday by his wife, renowned NBC News correspondent Andrea Mitchell.

Alan Greenspan
Alan Greenspan

Mitchell, who was married to Greenspan for 29 years, shared a poignant statement confirming that he died at their home due to complications from Parkinson’s disease. “He was a giant of a man who helped shape the U.S. economy for decades under presidents of both parties, but was always honest in acknowledging his mistakes,” Mitchell said.

Serving five terms as the Fed chair under four different presidents—Ronald Reagan, George H.W. Bush, Bill Clinton, and George W. Bush—Greenspan’s influence on the global financial landscape was unparalleled. Often referred to as “The Maestro,” he was widely credited with overseeing one of the most prosperous periods in American history, including the longest economic expansion from 1991 to 2001.

Alan Greenspan
Alan Greenspan

Born on March 6, 1926, in New York City, Greenspan’s journey began with a passion for music. A graduate of the Juilliard School, he spent time as a professional jazz musician before pivoting to economics at New York University. His early association with philosopher Ayn Rand profoundly shaped his views on laissez-faire capitalism, a philosophy that would later influence his tenure as a policymaker.

Greenspan took the helm of the Fed in 1987, shortly before the infamous “Black Monday” market crash. His swift, decisive actions to provide liquidity to the markets during that crisis helped cement his reputation as a steady hand. Throughout the 90s and early 2000s, his ability to manage interest rates became legendary, with investors and politicians alike watching his every word to forecast market moves.

Alan Greenspan
Alan Greenspan

However, his legacy is not without significant controversy. Critics often point to his advocacy for financial deregulation as a contributing factor to the 2008 global financial crisis. Greenspan himself later acknowledged the complexity of the economic landscape, referring to the crisis as a “once-in-a-century credit tsunami.”

Despite these challenges, he remained a fixture of American public life, advising presidents and maintaining a unique reputation as the world’s most powerful central banker. Beyond the boardroom, he was a man of varied interests, ranging from his love for the Washington Commanders to his deep appreciation for jazz music.

Alan Greenspan
Alan Greenspan

“To me he was my husband, who shaped my life from our very first date in 1984,” Mitchell added. “He will be remembered for his brilliance and his kindness. Being his life partner was the joy of my life.”

Alan Greenspan
Alan Greenspan

As the world reflects on his century-long life, the financial community remembers a man who defined the American economy for a generation.

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