"On a monthly basis, the Consumer Price Index was up 0.3% after seasonal adjustment in December. Year-over-year the all-items index was up 2.7%, the same as it was in November. Shelter was the main contributor to the all-items index's monthly increase, rising 0.4% from a month prior. Other major contributors included the food index, which rose 0.7% and the energy index, which jumped 0.3%."
"On an annual basis, as it did on a monthly basis, the all items less food and energy index posted a smaller increase than the all item index, rising just 2.6% over the last 12 months. During the same time frame, the energy index rose 2.3%, while the food index jumped 3.1%. Annually, the shelter index was up 3.2%, while the rent of primary residence index rose 2.9% annually and the owner's equivalent rent of residences index jumped 3.4% year-over-year in December."
The Consumer Price Index increased 0.3% month-over-month in December after seasonal adjustment and was up 2.7% year-over-year, unchanged from November. Shelter led monthly gains with a 0.4% rise, while food increased 0.7% and energy rose 0.3%. The all items less food and energy index climbed 0.2% for the month and 2.6% annually. Recreation, airline fares, medical care, apparel, personal care and education contributed to monthly core gains, while communication, used cars and trucks, and household furnishings and operations declined. The December print showed slight moderation in price increases and left the possibility of a March rate cut open if inflation and labor trends cool further, though most economists still expect the Fed to hold rates steady at the upcoming meeting.
Read at www.housingwire.com
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