Federal Reserve officials said data released on Wednesday showed U.S. inflation was continuing to ease even as they noted heightened uncertainty in the coming months as they await a first glimpse of the incoming Trump administration's policies.

Consumer price growth ticked up in December, a sign President-elect Donald Trump will inherit the inflation issues that dogged the Biden administration as he re-takes the White House next week.

The December inflation report shows that inflation rose by 0.4% month over month and 2.9% year over year. NBC News' Brian Cheung and Editor-in-Chief at Investopedia Caleb Silver break down the latest economic data.

Irish inflation rose to an annual rate of 1.4% in December after a reading of 1% in November, Central Statistics Office data showed on Thursday.

U.S. inflation picked up last month as gas prices rose sharply, though price gains for other goods were more muted.

Global unemployment remained steady last year at an historical low of 5%, where it is set to stay in 2025, the International Labour Organization said in a report on Thursday.

Data Tuesday showed wholesale inflation slowing, but bigger price gains in key categories that feed into the Fed’s preferred inflation gauge contained excitement about rate cuts

Stock markets surged on Wednesday, buoyed by robust US bank earnings and encouraging inflation data from the United States and Britain.