U.S. consumer prices rose in December on an annualized basis, according to data released on Friday.
The Labor Department said its consumer price index decreased 0.1% last month. In the 12 months through December, the CPI rose 1.9%.
Both readings were in line with consensus.
The so-called core CPI increased by 0.2% from a month earlier and rose 2.2% in the 12 months through December.
Those readings also matched economists’ forecast.
Core CPI is a key gauge of underlying consumer price pressures that excludes food and energy costs.
Core prices are also viewed by the Federal Reserve as a better gauge of longer-term inflationary pressure precisely because they exclude the volatile food and energy categories. The central bank usually tries to aim for 2% core inflation or less.
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