WASHINGTON — The consumer price index rose by 0.1% in December, as expected, while core CPI posted a stronger-than-expected 0.3% rise compared with the 0.2% gain expected, data released Friday by the Bureau of Labor Statistics showed.
Unrounded, the month/month rise for overall CPI was up 0.1498%, very close to being rounded up to a 0.2% headline gain. The unrounded gain for core CPI was up 0.2767%. While the December core CPI figure was above expectations, this is the first time the median estimate in MNI survey history had aimed too low for December core CPI, it was on the low side of 0.3%.
Overall, the data points to contained core consumer inflation, with the year/year rate remaining well below the 2% threshold, but it is creeping up closer to that point.
The year/year rate for overall CPI now stands at 2.1%, down from the 2.2% rate in November. For core CPI, the year/year rate bounced back up to 1.8% from 1.7% in November.
Within core CPI, owners equivalent rents rose 0.3% after a 0.2% rise in the previous month, while lodging away from home rebounded by 0.8% after a 1.3% dip in the previous month.
Apparel prices were expected to rebound in the month, but instead fell further with a 0.5% decline after a 1.3% November drop, the fourth consecutive fall.
Energy prices fell by 1.2% in the month, with a 2.7% drop in gasoline prices more than offsetting a 3.0% jump in fuel oil prices. Excluding only energy prices, the December CPI would have been up 0.3%.
Food prices were up 0.2% in December, with food at home up 0.1%, and food away from home up 0.2%.
