Consumer Price Index: December Headline at 7.04%

The Bureau of Labor Statistics released the December Consumer Price Index data this morning. The year-over-year non-seasonally adjusted Headline CPI came in at 7.04%, up from 6.81% the previous month. Year-over-year Core CPI (ex Food and Energy) came in at 5.45%, up from 4.93% the previous month and is above the Fed's 2% PCE target.