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Cost of Living Goes Up: Prices Rise for Americans in Two Important Areas

Prices climb 3% from last year, hinting at a small inflation rise in the final months of 2023, says federal data.

Inflation. (PHOTO: FORBES)

Cost of Living Up 3.4%

According to The US SUN finance report, Ii December, things we buy got 3.4% more expensive than a year ago. Core inflation was 3.9%, and the Consumer Price Index, a way to measure prices, went up by 0.3%, showing a general increase in what it costs to live.

READ ALSO: Pennsylvania’s Child Care Tax Credit Doubles: Families Set to Benefit

Housing and Car Insurance

Homes got pricier, going up 6.2% in the past year, making up over half of the price increase. Car insurance went up by 1.5% in December, a big 20.3% more than the year before. Even though cars got a bit cheaper, housing and insurance are the main reasons for the rising prices.

READ ALSO: 7-Eleven Trip Turns Into $720,000 Jackpot: LeBron James Basketball Card Fetches Record Price

Mixed Impact on Goods and Services

Even with prices going up, some things got cheaper. Fun things and stuff for your home cost less. But, the cost of homes and car insurance went up a lot. While actual car prices went down a bit, it’s a mix of good and bad news for people’s wallets.

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