Egg prices surge as US inflation picks up

A jump in energy and food prices hit the US last month, as progress stabilising prices remained elusive.

On average, prices in December were up 2.9% compared with a year earlier, up from 2.7% in November, the Labor Department said.

Egg prices shot up more than 36%, as a bout of bird flu hit supply and led to shortages.

But the data showed prices for other items rose by less than expected over the month, calming market fears that the US central bank might have to act more aggressively to stabilise prices.