Despite the 2024 campaign rhetoric, Joe Biden is leaving Donald Trump a healthy economy that may be better off left alone.

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 incoming president is set to inherit three months of rising inflation from his predecessor, the Consumer Price Index shows.

Economists are starting to model the effects of President-elect Donald Trump’s plans to raise tariffs, cut taxes and restrict immigration. The upshot: Inflation and interest rates are likely to be higher for at least the next two years than forecasters anticipated before the election.

Supreme Court Chief Justice John Roberts began administering the oath to Trump and told him to raise his right hand before first lady Melania Trump, who was holding the Bible, made it to Trump’s side. Video and images of the ceremony show that Trump repeated the oath but never moved his left hand onto the Bible.

Trump targeted the Panama Canal and undocumented migrants, repeating old claims and making new ones. We fact check them.

The consumer price index, an inflation gauge, rose 2.9% on an annual basis in December 2024 on the back of higher food and energy prices.

Inflation figures came in near as expected for December. Prices rose 0.4% percent and the year-over-year price index increased 2.9 percent. The U.S. Bureau of Labor Statistics issued the December Consumer Price Index on Wednesday morning. The consensus had been for a 0.4% gain for the month and a 2.9% increase year-over-year.

Stocks surged on Wednesday after the latest consumer price index report showed core inflation unexpectedly slowed in December.

The absence of tariff hikes by in Trump's comments on his first day at the White House led to a strong buying in risk-sensitive currencies. The Euro (EUR) rallied almost 1.3% against the US Dollar despite fears of higher tariffs remaining intact.

Traders should keep watch on US Retail Sales data on Thursday, as it could increase volatility to Bitcoin price.

European markets ticked cautiously higher as the world looks to the inauguration of Donald Trump later on today.