U.S. Annual Retail Inflation Rises 1.9% in December

11 Jan 2019

U.S. Annual Retail Inflation Rises 1.9% in December

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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