ARLINGTON, Va. — Rebounding energy prices sent the Consumer Price Index up 1.5% in December. However, for the year, CPI held fairly steady at 1.7%, reports NAFCU.
According to a new Macro Data Flash from NAFCU Research Assistant Doug Christman, core CPI was relatively unchanged over the previous eight months. "Both CPI and core CPI remain well below the Fed's stated inflation target."
Christman analyzed data from the Bureau of Labor Statistics on CPI, core prices and energy prices, among others.
Core prices excluding food and energy costs went up 0.1% in December, month over month, compared with 0.2% in November. Energy prices, on the other hand, went up 2.1% after falling 1% the month before. Food prices went up 0.1% in December after going up the same amount the month before; they rose 1.1% on a year-over-year basis.
