WASHINGTON — The consumer price index increased 0.1% in December, nudged higher by used car and truck prices, the Labor Department reported Friday.
Core prices, excluding food and energy costs, also increased 0.1% in December, in line with economists’ estimates. A 2.5% increase in the index for used cars and trucks accounted for almost half of the increase in core prices.
Economists expected consumer prices to rise 0.2% and for core prices to rise 0.1%, according to the median estimate from Thomson Reuters.
Consumer prices for the year ending in December increased 2.7%, following a 0.1% increase for 2008.
A wide swing in the energy index pushed up consumers’ costs. Gasoline prices rose 53.5% in 2009 after falling 43.1% in 2008.
Other price sectors indicated consumers face limited inflation pressures as the economy pulls out of the recession. The food price index fell 0.5% for the 12 months ending in December, the first annual decline since 1961.
Consumer prices rose 0.4% in November and 1.8% for the year ending in November.
It was the first positive year-over-year change since February. Core CPI was unchanged in November.